Why isn’t the BTC price moving despite billions in ETF inflows?

Spot Bitcoin ETFs in the United States have just notched their 19th day of inflows. Traders explain why it hasn’t led to a surge in the price of Bitcoin.

Despite a record 19-day streak of inflows into United States Bitcoin (BTC) exchange-traded funds (ETFs), some may be wondering why the price of Bitcoin has failed to surpass $73,679. Analysts say they have the answer.

As of June 6, Bitcoin ETFs around the world held around 1.3 million Bitcoin, or 5.2% of BTC circulating supply — with a great deal held by the U.S. listed ETFs, according to HODL15Capital.

However, analysts say many other factors influence the price and that the ETFs don’t have enough influence.

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