Crypto
Bitcoin Holds Steady Above $81,000 Amid Fund Flow Concerns
Bitcoin held above $81,000 on Saturday, but its weekend stability is being questioned by the lackluster performance of U.S. spot bitcoin funds over the past week.
The funds saw a net inflow of only $6 million for the week, despite a significant $433 million influx on Friday alone.
Fidelity's Wise Origin Bitcoin Fund, FBTC, was responsible for 71.8% of that day's creations, with BlackRock's IBIT adding another $108.4 million.
The concentration of inflow from these two funds has raised concerns about the sustainability of the recent rally.