Glassnode Analysis: Institutional Buying Enthusiasm Cools Down in US Spot Bitcoin ETFs

The cryptocurrency market continues to be influenced by various factors, including institutional investment trends. A recent analysis by Glassnode suggests that the buying enthusiasm among institutions has cooled down in recent days.

The data analyzed by Glassnode shows a negative trend in net inflows for US spot Bitcoin ETFs over the past week. The 7-day simple moving average (7D-SMA) of these net inflows turned negative, indicating a decrease in institutional buying activity.

The scale of the outflows is not large, ranging from 200 to 500 BTC per day. However, their persistence suggests that institutions remain hesitant at current Bitcoin price levels.