Equity weakness could damp demand for bitcoin (BTC) after biggest ETF inflows in a month: Crypto Daily
Summary
Bitcoin fell about 1.1% in 24 hours as weaker Asian equities and rising oil weighed on crypto markets; ether and the CoinDesk 20 index also declined. QCP Capital warned that sustained equity weakness could threaten bitcoin’s $80,000 support. Bitcoin stayed above that level as U.S. spot bitcoin ETFs drew about $527 million on Monday, their largest net inflows in a month, led by BlackRock’s IBIT. Ether ETFs saw $103.3 million in outflows for a fourth straight day, suggesting demand was focused on bitcoin. High Treasury yields, oil prices and inflation concerns remain headwinds, though the weekly bitcoin trend remains above key support.
