Bitcoin Faces Potential Price Weakness Amid $530M ETF Inflows, Warns Trader Skew

A popular trader, Skew, has warned of a potential "headline curse" for Bitcoin following significant inflows into spot Bitcoin ETFs, particularly noting a $530 million inflow on July 23, 2024. Historically, large ETF inflows have often been followed by BTC price sell-offs. Despite the bullish nature of these inflows, Skew highlighted that sustaining the current price levels requires consistent demand and the absorption of selling pressure. As of now, Bitcoin is trading around $66,550, down 1.