Bitcoin ETFs see biggest monthly inflows, but analysts warn equity weakness could damp demand
Despite U.S. spot Bitcoin ETFs recording their largest net inflows in a month on Monday, totaling $527 million (BlackRock's IBIT alone saw $665 million), analysts at QCP Capital warn that further equity weakness could dampen demand for Bitcoin and potentially threaten its $80,000 support level. Bitcoin dropped about 1.1% over the last 24 hours, while Ether ETFs saw $103.3 million in outflows for the fourth consecutive day. The macro backdrop remains challenging, with the U.S. 10-year Treasury yield around 5.13% and Brent crude near $110 a barrel, maintaining energy-driven inflation risks.
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