In January, spot Bitcoin ETFs were given the green light, leading to a significant influx of 834,000 Bitcoins, equivalent to a staggering $60.4 billion, into these investment funds. According to data provided by Dune, this amount represents only a small fraction, approximately 4.24%, of the total Bitcoin supply. Additionally, CoinShares reported that short Bitcoin investment products faced continuous outflows for three weeks in a row, indicating that bearish investors are experiencing a slight capitulation.
