The Bitcoin market showed small signs of recovery as the spot Bitcoin ETF recorded an inflow of $562 million on Monday, ending a four-day streak of outflows.
At the time of writing, Bitcoin is currently at $75,992, down 0.02% since it opened early Wednesday in Asian trading.
However, this amount is still not enough to cover the massive $1.5 billion sell-off that occurred last week, reflecting the market’s still cautious sentiment.
The inflow comes as Bitcoin prices rebounded after falling below $75,000, before surging to daily highs above $79,000.
However, analysts warn that institutional selling pressure and macroeconomic uncertainty still loom over the crypto market in the near term.
According to Galaxy Digital, Bitcoin prices are currently below the average ETF purchase cost of around $84,000, a level that is expected to be a key support in the near term.
Meanwhile, Ether ETFs continue to record small outflows, signaling an uneven recovery in the digital asset market.
While short-term challenges remain, experts view Bitcoin’s long-term outlook as positive, supported by concerns over the depreciation of fiat currencies and the potential for a rebound once global economic conditions stabilize.
