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Simultaneously, there has been a historic injection of stablecoins into Coinbase—$1.4 billion in just recent hours. Such massive inflows typically suggest readiness for significant buying, possibly in anticipation of a market move. Coupled with the largest ever stablecoin inflow and substantial Bitcoin drainage from exchanges, these data points suggest an impending surge or liquidity event.
The Significance of ETF Flows
Exchange-Traded Funds (ETFs) continue to shape the crypto narrative. Over the past 54 days, almost all ETF operations have been positive, with only two exceptions linked to specific issues like FTX and Genesis. The overall trend indicates persistent bullish momentum, with ETFs collectively accumulating nearly half a million Bitcoin.