Kaiko: Since the start of Bitcoin spot ETF trading, there has been selling pressure on Bitcoin
2024/01/16 08:08
According to CoinDesk, Bitcoin has faced selling pressure in the
market since the start of trading by the U.S. spot exchange-traded fund (ETF) last week.
A report from data analysis company Kaiko pointed out that traders from one exchange led the sell-off of Bitcoin. Kaiko's Cumulative Volume Delta (CVD) indicator shows that since last Thursday, CEX's spot market CVD has been continuously declining, implying a large outflow of funds.
Analysts predict that the price of Bitcoin could further drop to $40,000 or lower until market pullback momentum weakens. The initial performance of the
Bitcoin ETF was weak compared to analysts' predicted inflow of $4 billion on its first day, which may lead to a continued decline in prices.
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!
You may also like
Spot gold drops $10 in the short term, falling to $4,200 per ounce
金色财经•2025/12/04 02:30
US SEC Again Delays Implementation of Controversial Short Selling Disclosure Rule
Chaincatcher•2025/12/04 02:26
Kamino sparks controversy by blocking users from refinancing through Jupiter Lend
Chaincatcher•2025/12/04 02:16
Trending news
MoreCrypto prices
More
Bitcoin
BTC
$93,808.95
+1.19%
Ethereum
ETH
$3,213.94
+5.62%
Tether USDt
USDT
$1
-0.01%
XRP
XRP
$2.21
+0.93%
BNB
BNB
$924.26
+4.10%
Solana
SOL
$145.51
+4.18%
USDC
USDC
$0.9999
-0.01%
TRON
TRX
$0.2801
-0.43%
Dogecoin
DOGE
$0.1524
+3.25%
Cardano
ADA
$0.4520
+3.16%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now