Compass Investments

– Spot Bitcoin (BTC) exchange-traded funds (ETFs) are showing their highest daily inflow in nearly eight months. LINE_BREAP Analyst TedPillows reports to his 314,300 followers on X that on September 3, these funds purchased $730.87 million worth of Bitcoin.

He notes that on the two previous occasions when daily inflows into ETFs exceeded $700 million, Bitcoin soon reached a local high.

The last two times Bitcoin ETFs recorded daily inflows of $700,000,000, BTC soon reached a peak. Yesterday, ETFs bought $730,870,000 worth of BTCthe highest inflow in nearly eight months. Is Bitcoin approaching a local peak?

On-chain data analyst Alex Adler Jr. emphasizes that Bitcoin ETFs account for a significant share of net inflows over the past 30 days.

Of the approximately 105,000 BTC corresponding to net capital inflows over the past month, U.S. spot ETFs accounted for about 42,800 BTC, which is 41% of that total.

At the same time, an analyst going by the pseudonym DonAltwho has long accurately predicted Bitcoins movementsbelieves that BTC is in a bullish phase, as the largest crypto asset by market capitalization shows no signs of entering a deep correction.

There just arent any major pullbacks when the market is in a bullish trend.

Minor ones? Yes.

Significant ones? No.

The only times significant pullbacks occur are when the bulls are wrong; thats when you can buy, but only on a bounce, not on a continuation of the trend.

DonAlt predicts that Bitcoin will rise to the $90,000 level before any noticeable pullback occurs.

By the way, Im not saying there wont be any corrections. I can imagine, for example, a drop from $90,000 to $70,000.

Its just rare for the market to show weakness immediately after an initial momentum like the one weve seen.

Im almost certain that once we hit the $90,000 mark, even those who are currently expressing dissatisfaction in the comments will start siding with the bulls.”,”detected_source_language”:”RU