Key results:

• The impact of ETF Bitcoin Spot fell by over 90% from $ 3 billion to $ 228 million in four weeks.

• While the sturdy ETF influences often drive bitcoin rallies, the last data show that price movements can occur independently.

• Despite low -term sales pressure, long -term purchases of BTC whales suggest a potential continuation of BTC growth.

The Bitcoin market (BTC) recorded a decrease in the Fund Fund Fund (ETF) by 90%+%, falling from $ 3 billion in the last week of April to just $ 228 million this week.

Historically, the slowdown of the ETF inflow affected the price of BTC, in particular when daily revenues increased on average over $ 1.5 billion for the following weeks. To understand the potential effect on bitcoins, let’s examine four key periods of significant ETF activity and their correlation with BTC price movements.

In Q1 2024, from February 2 to March 15, Spot ETFS registered $ 11.39 billion In seven weeks, a 57% enhance in prices leads in net inflows. Although BTC prices have reached the summit in the fifth week, because $ 4.8 billion in the last two weeks has not increased its value.

Similarly, Q3 2024 recorded inflows of $ 16.8 billion within nine weeks from October 18 to December 13, fueling 66% of the rally. However, when the revenues slowed down in the 10th week, the Bitcoin price dropped by 9%, strengthening the relationship between ETF flows and price corrections.

In the first quarter of 2025, $ 3.8 billion in the inflow in two weeks (17-24 January) coincided with the fresh level of $ 110,000 in history on January 20, but the overall prices dropped by 4.8%.

Recently, Q2 2025 (April 25 – May 9) has recorded an inflow of $ 5.8 billion and a 22% price rally, although Bitcoin has already gained 8% in the last two weeks despite negative flows.

These data question the view that the ETF spot affects prices consistently. While Q3 2024 and Q2 2025 suggest sturdy fuel inflows, Q1 2024 and Q1 2025 show that prices can stagnate or fall despite significant influx. The Q2 2025 rally, partly independent of ETF activity, indicates other drivers, such as mitigation of American tariffs, retail interest or accumulation of bitcoin whales.

In the case of influx of $ 228 million, the historical trend leans from Bearish, which suggests potential correction. However, the counterargument emerges from the recent activity of a whale, which paints a more stubborn picture.

Related: 6 characters predicting $ 140,000 as the next Bitcoin price

Bitcoin faces sales pressure, but whales can keep the trend

Bitcoin shows low -term pressure for sale, because Delta for the pressure of buying/sales becomes negative, according to Alphtal CEO Joao Wedson. . The chart shows The fact that whales begin to unload BTC from 105,000 to 100,000 USD, which is a risky level by Wedson. This bear change, with a negative cumulative volume, indicates the sale of pressure in the low period.

However, long -term purchasing pressure remains sturdy, which suggests that this decrease is a correction, not a reversal. Data from Cryptochan emphasize that whales adopt relatively less profits in the current period than in previous price peaks. Anonymous Blitzz Trading Analyst excellent,

“Compared to previous rallies, it can be seen that whales have brought much less profit during this recent growth. This may indicate that the upward trend may be continued. This chart should be strictly monitored.”

Related: Bitcoin Bulls is aimed at the fresh highest levels next week, when capital inflows rise

This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.