Bitcoin Spot ETFs Flooded with Record $730M, Warning Signs of Local Top Ahead

Bitcoin spot exchange-traded funds (ETFs) have seen their largest daily inflow in nearly eight months, with $730.87 million worth of Bitcoin bought on September 3rd.

TedPillows warns that this level of ETF inflows has preceded local tops for Bitcoin in the past, citing two instances where daily ETF inflows topped $700 million before a brief correction.

On-chain analyst Alex Adler Jr. notes that US spot ETFs contributed 41% to the net capital inflow over the last 30 days, accounting for approximately 42,800 BTC in net flows.

DonAlt, a pseudonymous analyst with a history of accurately timing Bitcoin moves, believes Bitcoin is in bull territory and could surge to as high as $90,000 before any meaningful pullback.