Bitcoin ETFs Drop for 5 Days, Pomp Calls BTC Oversold

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Spot Bitcoin ETFs have seen about $1.17 billion in outflows over the past five trading days, but Anthony Pompliano says Bitcoin’s spot price may now be oversold.

US-based spot Bitcoin ETFs have posted their longest run of outflows in over four months, though crypto entrepreneur Anthony Pompliano says that Bitcoin’s price may now be oversold.

Over the past five trading days, spot Bitcoin ETFs have seen about $1.17 billion in outflows, representing the longest streak since a seven-day outflow period in April when Bitcoin was trading near $79,625, according to Farside and CoinMarketCap.

Pompliano said on CNBC on Thursday that Bitcoin is likely undervalued now. It was trading at $112,870 at the time of writing.

Bitcoin headed to a more active buying period: Pomp
“Right now at 112, 113,000, it is pretty oversold,” Pompliano said. He said that Bitcoin’s oversold signals, along with Bitcoin approaching September and October, in the year following the April 2024 halving, could indicate the asset’s price is ready to move higher.


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