The data on Monday was much better than I expected. Although the bitcoin:native spot ETF still experienced a net outflow, it is clear that, aside from the two major holders, BlackRock and Grayscale, other institutions have seen inflows to varying degrees. This indicates that what we previously said was correct; the price of $60,000 is tempting enough for even traditional investors, who may not be very interested in cryptocurrencies, to buy in.
So even if the price of Bitcoin drops below $60,000, I believe that the sentiment of investors looking to buy in will only increase. Of course, the current focus is on U.S. inflation data, so we can expect a drop after the CPI is announced on Wednesday. We will see on Tuesday and Wednesday what traditional investors choose in light of the expectations of a downturn.
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