The market still focuses on the upcoming halving event, expected to be the catalyst for the next bullish wave. Meanwhile, I believe that exchange-traded funds (ETFs) trading in BTC remain the key factor controlling the market.
From my perspective, reports indicating that BTC ETFs have garnered over $2.5 billion in net flows last week alone, attributed to institutional FOMO, could fundamentally provide a new level of buying momentum, which is the pivotal level BTC prices seek before a reversal in the medium and short term.
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