Bitget App
Trade smarter
Kaiko: Since the start of Bitcoin spot ETF trading, there has been selling pressure on Bitcoin
2024/01/16 08:08
According to CoinDesk, Bitcoin has faced selling pressure in the
market since the start of trading by the U.S. spot exchange-traded fund (ETF) last week.
A report from data analysis company Kaiko pointed out that traders from one exchange led the sell-off of Bitcoin. Kaiko's Cumulative Volume Delta (CVD) indicator shows that since last Thursday, CEX's spot market CVD has been continuously declining, implying a large outflow of funds.
Analysts predict that the price of Bitcoin could further drop to $40,000 or lower until market pullback momentum weakens. The initial performance of the
Bitcoin ETF was weak compared to analysts' predicted inflow of $4 billion on its first day, which may lead to a continued decline in prices.
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!
You may also like
BTC surpasses $91,000
金色财经•2025/11/28 23:44
Overview of Major Overnight Developments on November 29
金色财经•2025/11/28 23:34
Trending news
MoreCrypto prices
More
Bitcoin
BTC
$90,890.87
-0.28%
Ethereum
ETH
$3,034.9
+0.71%
Tether USDt
USDT
$1
+0.03%
XRP
XRP
$2.18
-0.90%
BNB
BNB
$886.64
-0.92%
Solana
SOL
$137.42
-2.33%
USDC
USDC
$0.9998
+0.00%
TRON
TRX
$0.2811
+0.26%
Dogecoin
DOGE
$0.1502
-1.55%
Cardano
ADA
$0.4198
-2.90%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now