As institutional investors continue to buy Bitcoin (BTC) Exchange Traded Products (ETP), the upward trend is being further strengthened. With Bitcoin successfully closing higher for seven consecutive weeks recently, investors are expressing expectations that this rally could continue into the eighth week.
Industry analyst Carpe Noctom shared on X (formerly Twitter), "There have only been three instances in history where Bitcoin closed higher for eight consecutive weeks, and in all three cases, prices rose further in the following 6-12 months." This suggests that long-term investors are interpreting the current movement as a signal of continued growth rather than a short-term correction.
Institutional investors are actively injecting funds into Bitcoin ETPs in line with these observations. According to digital asset manager CoinShares, Bitcoin ETPs saw an inflow of $2.9 billion (approximately 3.973 trillion won) last week. This represents about 25% of the total inflows for 2024.
This strong demand demonstrates that Bitcoin is maintaining powerful support even during short-term downward periods. Steady buying continues at lower price levels, even as major altcoins experience corrections, reflecting a robust optimistic sentiment towards Bitcoin and the overall cryptocurrency market.
Notably, with Trump's recent delay in tariff decisions for the European Union (EU), global financial market uncertainty is rising again. If political and economic volatility increases, Bitcoin may strengthen its role as a "digital gold" value storage mechanism, making it interesting to observe how the macro environment might impact future price movements.
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