Analyst: Bitcoin Showing Signs of Recovery, But Uptrend Still to be Confirmed
BlockBeats News, July 22nd, Bloomberg's senior ETF analyst Eric Balchunas stated that since the United States' 250th Independence Day, Bitcoin has risen by about 8% in total, outperforming most assets. At the same time, inflows into Bitcoin spot ETFs have started to rise again, with a net inflow of approximately $750 million in the past week.
Balchunas expressed that it is still difficult to fully believe that this round of rise has formed a stable trend. However, after Bitcoin experienced a previous pullback, a subsequent rebound was not unexpected. The future trend is still under observation.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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