Bitcoin ETF Flows: No Clear Correlation to Price Action

Bitcoin's recent price surge has sparked debate about whether it was caused by the influx of $3.5 billion into spot ETFs or simply coincidence.

A financial analyst tracked Bitcoin ETF flows and found that a net US spot-ETF creation day of $100 million can move Bitcoin 53.7 basis points over the next 170 sessions.

However, this impact does not reverse, with twenty sessions after a top-decile creation day showing Bitcoin to be flat or slightly higher.

The analyst's research suggests that the relationship between ETF flows and Bitcoin price is complex and may not be as straightforward as initially thought.