US-based spot Bitcoin ETF investors are showing relatively strong conviction despite the four-month Bitcoin downtrend. According to ETF analyst James Seyffart, the ETFs are holding up well; investors are experiencing their biggest losses since the January 2024 launch, with about 42% paper losses while Bitcoin trades below $73,000.
Spot Bitcoin ETF Investors’ Firm Grip
As highlighted by James Seyffart, spot BTC ETFs are showing resilience during this tough period according to BTC detailed analysis data. Investors are holding their positions despite a 42% drop from BTC’s peak. This stands out as a reflection of the long-term HODL strategy.
Net Inflows and Outflows: 3-Month Outflow Record
According to Farside data, net inflows fell from 62,11 billion dollars pre-October to 55 billion dollars. Investment researcher Jim Bianco noted that the average spot Bitcoin ETF investor is 24% underwater and collectively holding firm. Crypto analytics account Rand highlighted that for the first time in history, three consecutive months of outflows have occurred.
| Period | Net Inflow (Billion $) | Change |
|---|---|---|
| Pre-October | 62,11 | – |
| Current | 55 | -7,11 |
BTC Price Decline and Technical Indicators
Bitcoin was trading at 70.537 dollars with a 24,73% decline over the last 30 days; current price 71.439,28 $ (-6,41% 24s). RSI at 21,66 is in the oversold region, but Supertrend is bearish and the downtrend continues above EMA 20 (83.047 $). This indicates short-term pressure but carries recovery potential.
Expert Opinions: Short-Term Bearish, Long-Term Bullish
ETF analyst Eric Balchunas says investors are looking short-term, with Bitcoin performing over 400% since 2022. CryptoQuant CEO Ki Young Ju stated that “every Bitcoin analyst is bearish.” Balchunas’s view also covers speculative selling in the BTC futures market.
BTC Critical Support and Resistance Levels
In technical analysis, strong supports are prominent. Here are the current levels:
| Level | Price ($) | Score (/100) | Distance (%) |
|---|---|---|---|
| S1 Support | 70.165,92 | 81 ⭐ Strong | -2,35 |
| S2 Support | 58.306,99 | 52 Medium | -18,86 |
| R1 Resistance | 73.418,94 | 68 ⭐ Strong | +2,17 |
| R2 Resistance | 76.620,12 | 60 ⭐ Strong | +6,63 |
| R3 Resistance | 80.388,44 | – | – |
If S1 breaks, there’s a risk of a sharp drop to S2, but a bounce is expected with RSI oversold. ETF holding is a positive signal for the BTC spot market.
Source: https://en.coinotag.com/btc-spot-etfs-in-decline-investor-resilience
