Bitcoin ETF creates records, from Hong Kong to Australia, as BTC rises 4%

Bitcoin [BTC] ETFs have remained a hot topic of discussion in the crypto space since their approval in January 2024.

BTC was up by 4% in the last 24 hours, but a few metrics were bearish.ETFs have remained a hot topic of discussion in the crypto space since their approval in January 2024.

The recent uptick pushed its BTC reserves to 4,941 BTC. According to the AMBCrypto Converter, the total Hong Kong BTC ETF reserves were valued at over $310 million. Since there was much traction around BTC ETFs, AMBCrypto planned to have a better look at what’s going on. Our analysis of Dune Analytics’ data revealed that BTC ETFs’ netflows have declined over the past few weeks.

Our look at Coinglass’ data revealed a bullish signal. Bitcoin’s Long/Short Ratio registered a massive uptick at press time, reflecting more long positions in the market than short positions.Source: Coinglass

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