Why Bitcoin Is Trapped In A Range Despite Record ETF, Treasury Company Flows
Bitcoin‘s (CRYPTO: BTC) price may continue to stay within its current trading range despite rising institutional interest and significant ETF inflows, according to Michael Bucella, managing partner at Neoclassic Capital.
In an interview with CNBC on Tuesday, Bucella explained that although demand for Bitcoin is strong, structural factors are preventing further price movement.
“ETF inflows have been enormous, I think $4 billion in June alone,” Bucella said, highlighting the surge of institutional capital entering Bitcoin through regulated products.
However, he pointed out that this demand is not directly translating into higher prices.
Bucella said that some investors are rotating out of Bitcoin spot positions and into crypto-related equities like Coinbase (NASDAQ:COIN), Circle (CRYPTO: USDC), and Bitcoin treasury companies, shifting how they gain exposure to the asset class.
“There’s people replacing …
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