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Why Is Bloomberg Analyst Bullish on Spot Bitcoin ETFs Despite $1.2B Outflow?

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Summary
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74% Informative

US Bitcoin exchange-traded funds saw $ 1.2B in outflows over eight days , the largest since their January debut.

Bloomberg analyst Eric Balchunas views the outflows as minor, noting $ 16.8B in YTD inflows.

Despite recent outflows, Bitcoin price is $ 54,959.48 , showing a 1.57% increase in the last 24 hours .

Despite the uptick, several troubling economic indicators are casting doubt on the rally's sustainability.

VR Score

63

Informative language

56

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56

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formal

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English

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52

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short-lived

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