Bitget App
Trade smarter
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
Decentralized RWA infrastructure project Infinite Galaxy Protocol officially launches Genesis Node sale
Chaincatcher•2025/11/30 06:05
HyperLiquid co-founder: No external fundraising has been conducted, so there are no investor HYPE token unlocks
Chaincatcher•2025/11/30 06:05
Santiment: Stablecoin yields decline, Ethereum may soon return to the $3,200 level
金色财经•2025/11/30 05:41
Data: Ethereum staking rate reaches 28.65%, Lido market share at 24.12%
金色财经•2025/11/30 05:20
Trending news
MoreCrypto prices
More
Bitcoin
BTC
$90,943.37
+0.32%
Ethereum
ETH
$3,000.11
-0.31%
Tether USDt
USDT
$1
+0.02%
XRP
XRP
$2.2
+0.54%
BNB
BNB
$873.47
-0.67%
USDC
USDC
$1
+0.04%
Solana
SOL
$136.44
-0.50%
TRON
TRX
$0.2801
-0.31%
Dogecoin
DOGE
$0.1491
-0.19%
Cardano
ADA
$0.4173
+0.28%
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