Bitfinex analyst: BTC price has not risen sharply yet due to the delayed effect of ETF inflow

Despite the large inflows into Bitcoin ETFs last week, BTC prices do not seem to have risen significantly. Bitfinex analysts said that the lack of a significant rise in BTC prices may be due to the delayed effect of ETF inflows, which may take a few days to affect the spot BTC price. Bitcoin ETFs have limited direct impact on prices and usually take a few days to form bullish momentum. Analysts said: "Usually, this means that a large amount of ETF inflows will have little effect within a few days, and once the enthusiasm of spot market buyers fades, the market will reverse and fall. We need continued spot market interest to drive prices out of the current range fluctuations." (Cointelegraph)