Bitcoin Selling Pressure Eases as U.S. Spot ETFs Attract $506M
According to reports, Bitcoin demand has shown signs of recovery, marking the first such instance since November. This is attributed to inflows into U.S. spot Exchange Traded Funds (ETFs), which have reportedly reached $506 million. Additionally, the Coinbase premium has turned positive, suggesting a shift in market dynamics. The development indicates a potential weakening of selling pressure on Bitcoin as institutional interest, gauged by ETF inflows, appears to be increasing.
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