Analyst: Bitcoin ETF has seen a cumulative net inflow of $1.5 billion year-to-date, and buying pressure may have gradually absorbed selling pressure

Bloomberg ETF analyst Eric Balchunas posted, "The Bitcoin ETF performed strongly yesterday with a net inflow of $843 million, bringing the total net inflow for the past week to $1 billion, and the cumulative net inflow year-to-date is about $1.5 billion. In terms of price, Bitcoin is currently around $97,000, after seemingly oscillating around $88,000 for nearly six months. The overall feeling is that buying pressure may have gradually absorbed, or even exhausted, selling pressure, though we will need to continue observing how this develops."