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Bitcoin’s decline prompts caution among traditional investors, emphasizing the importance of forthcoming flow data to gauge market sentiment. 
Traditional investors (tradfi) are starting to exercise caution as Bitcoin’s (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) price experiences a decline pulling back over 12.5% from its recent all-time high reached on Mar. 14. In a recent <a href="http://blog.bitfinex.com" target="_blank" rel="noreferrer noopener">research report</a> Bitfinex notes that the latest retreat “was one of the largest price dips” since the introduction of spot Bitcoin exchange-traded funds (<a href="https://crypto.news/tag/bitcoin-etf/" target="_blank" rel="noreferrer noopener">ETFs</a>) earlier this year. 
Despite the surge in inflows into spot Bitcoin ETFs, which <a href="https://crypto.news/blackrocks-bitcoin-etf-hits-10b-amidst-crypto-rally/" target="_blank" rel="noreferrer noopener">surpassed</a> a billion dollars in a single day last week, recent data suggests a stabilization in flows, prompting some market observers to pause. 
<blockquote class="wp-block-quote"> 
 “It would not be a surprise to see a period now in which the market seeks some equilibrium after the initial enthusiasm we have seen.” 
 Bitfinex 
</blockquote> 
 You might also like: <a href="https://crypto.news/bitcoin-standard-chartered-prediction/"> Standard Chartered: Bitcoin to reach $150k by end of 2024 </a> 
Bitcoin has seen remarkable growth since the beginning of 2024, with a 74% surge in value and a staggering 90% increase from its post-ETF slump lows. However, the recent sharp corrections, occurring twice within two weeks, hint at a potential deceleration in the strong uptrend observed since the latter half of 2023. While this doesn’t necessarily signify a bearish outlook, it may indicate a period of consolidation for the broader crypto market, analysts at Bitfinex say. 
<blockquote class="wp-block-quote"> 
 “The flow data from the upcoming week will be crucial in shedding light on tradfi investors’ sentiment towards Bitcoin, and in particular their reaction to the sharp corrections last week.” 
 Bitfinex 
</blockquote> 
The analysts highlight that the upcoming week’s flow data will play a “crucial” role in understanding investors’ sentiment towards Bitcoin and assessing the broader investment community’s confidence in its stability. 
At the time of writing, Bitcoin is facing selling pressure, trading below the $65,000 mark according to CoinMarketCap data. As crypto.news <a href="https://crypto.news/bitcoin-sell-off-etf-inflows/">reported</a> earlier, Markus Thielen, Founder of 10x Research, anticipates Mar. 19 to be pivotal for Bitcoin, suggesting a possible continuation of correction if ETF inflows fail to meet expectations amid recent market volatility. 
Nonetheles, Thelen noted that despite the prospect of a deeper correction, the market can still argue that Bitcoin “will climb materially higher during the next few months as this bull market will likely continue.” 
 Read more: <a href="https://crypto.news/bitcoin-investors-selling-price-rally/"> Bitcoin long-term investors have started selling, potentially derailing $75k price rally </a>

Bitcoin’s retreat from $70k sparks concerns among tradfi investors, Bitfinex notes

crypto.news

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