Citi Says Bitcoin ETF Flows Drive 45% of BTC Moves as Strategy Sale Fades
Updated
Updated · CoinDesk · Jun 3
Citi Says Bitcoin ETF Flows Drive 45% of BTC Moves as Strategy Sale Fades
3 articles · Updated · CoinDesk · Jun 3
Summary
$67,200 bitcoin remained under pressure after Citi said weak spot ETF demand—not Strategy's recent sale—is the bigger reason for BTC's latest softness.
About 45% of weekly bitcoin price variation is explained by spot ETF flows, Citi estimated, making those flows its preferred real-time gauge of investor adoption.
Strategy's sale, Citi said, was a previously flagged tax-optimization move tied to first-quarter guidance and does not signal a broader retreat from its long-term bitcoin strategy.
Negative ETF flows and dimming odds of a U.S. crypto market structure bill this year are likely to keep sentiment subdued without fresh regulatory progress or a new macro catalyst.