US BTC-Spot ETF Market Eyes a Three-Day Inflow Streak

On Wednesday, June 26, the US BTC-spot ETF market saw total net inflows of $21.4 million, down from $31.0 million on Tuesday, June 25.

The United States BTC-spot ETF market saw total net inflows of $21.4 million on Wednesday, a decrease from the $31.0 million in net inflows recorded on Tuesday.

Despite seeing total net inflows for a second session in a row, inflows were lackluster compared to historical trends. With one trading session remaining in June, the US BTC-spot ETF market reported total net inflows of $581.7 million. In May, the US BTC-spot ETF market had total net inflows of $2,095.5 million.

Nevertheless, the US BTC-spot ETF market is on target to extend its net inflow streak to three sessions on Thursday.

According to Farside Investors, “While heading toward a three-day inflow streak, inflows remained weak. The looming US inflation numbers likely left investors on a cautious footing.”

Softer-than-expected US Core PCE Price Index numbers could cement bets on a September Fed rate cut on Friday. A less dovish Fed rate path would drive buyer demand for BTC and the broader market.

Bitcoin Analysis

BTC hovered below the 50-day EMA but sat above the 200-day EMA. The EMAs affirmed the bearish near-term signals but bullish longer-term signals.

A BTC move above the $64,000 resistance level could give the bulls a run at the 50-day EMA. Furthermore, a break above the 50-day EMA could signal a move toward the $69,000 resistance level.

On the other hand, a drop below the $60,365 support level could signal a fall to the 200-day EMA.

With a 35.02 14-Daily RSI reading, BTC may fall through the $60,365 support level before entering oversold territory.

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