CPT Markets: Bitcoin Fund Inflows Boost Market Sentiment

Deep News07-23 19:18

On July 23rd, Bitcoin-related funds recorded net inflows for several consecutive trading days. CPT Markets indicated that the cumulative fund inflow over six days approached $930 million, with the price rebounding above $65,000, leading to an improvement in market sentiment compared to the previous period.

The return of funds coincided with the price recovery. CPT Markets believes the area near $68,000 remains a significant resistance zone, as some recent buyers may increase their willingness to sell once they approach a break-even point.

While current spot demand has shown some improvement, trading activity remains below the year's peak levels. The sustainability of the rebound or a return to range-bound consolidation will depend on whether fund flows, derivatives positioning, and spot trading volume strengthen in unison.

The key focus going forward will be observing trading volume confirmation following a potential breakout above critical price levels. CPT Markets anticipates that if fund inflows remain stable and volatility is manageable, the market structure could continue to mend. However, the risk of a short-term pullback still needs to be viewed objectively.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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