Crypto Daily – Bitcoin (BTC) may be undergoing a small correctional phase, but its recent breakout of a 7-month bull flag has so far been successful. The $BTC price is holding above the top trendline of the bull flag, and once the current correction is complete a bounce could be forthcoming.
ETFs, war, and global liquidity
FOMO (fear of missing out) could be taking place among the institutions as the buying frenzy for the Spot Bitcoin ETFs continues apace. Yet another big net inflow day for the ETFs resulted with 4.31K BTC $297.6m being bought out of a dwindling market supply. The Blackrock (NYSE:) ETF (IBIT) accounted for practically all of Monday’s buying.
Be that as it may, the ongoing global conflicts are still having their effect on markets. Israel is still to potentially launch an attack on Iran as ceasefire talks do not appear to be bearing any fruit. Add to this the approaching date for the U.S. presidential elections, and one has a highly volatile cocktail…
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