Despite the continuous decline in Bitcoin prices, U.S. spot Bitcoin ETF holders still demonstrate relatively strong confidence. ETF analyst James Seifert stated that since the launch of U.S. products in January 2024, Bitcoin ETF holders have experienced approximately 42% paper losses, but their overall willingness to hold remains strong. Seifert commented, “The ETF’s performance remains quite good,” and recent outflows are negligible compared to the inflows during market peaks.
According to preliminary data from Farside Investors, before the October decline, net inflows into Bitcoin ETFs were about $62.11 billion, currently down to approximately $55 billion, indicating that investors are still collectively holding. Analyst Jim Bianco pointed out that the average holder of Bitcoin spot ETFs is at a 24% loss but continues to hold their positions. Ki Young Ju, CEO of CryptoQuant, added that most Bitcoin analysts in the market currently hold a bearish view, but ETF investors remain patient.
In the past 30 days, the spot price of Bitcoin has fallen 24.73%, with the trading price dropping to $70,537. The steadfast attitude of ETF holders is interpreted by some analysts as confidence in Bitcoin’s long-term value. ETF analyst Eric Balchunas noted that despite recent sluggish performance, Bitcoin has risen over 400% since 2022, far outperforming gold and silver. He said Bitcoin holders are “short-sighted” only during short-term dips and that this does not affect long-term return expectations.
Overall, ETF investors continue to demonstrate patience and a long-term holding strategy amid market volatility, which may provide relatively stable capital support for the crypto market. Market observers believe that although short-term downward pressure has increased, the collective holdings of Bitcoin ETF holders could become an important factor in supporting the market, highlighting investors’ confidence in Bitcoin’s long-term growth potential.
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