Bitcoin Algos Tracking ETF Flows Cited for Token’s Swings in Asia
- Digital asset’s worst drop in a month began in Asia on Tuesday
- Sentiment impacted as US ETF flows data emerge in Asia hours
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Bitcoin investors facing pronounced swings in Asia may be grappling with the fallout of automated trading protocols reacting to flows data for US exchange-traded funds holding the cryptocurrency.
Daily figures on the level of demand for these spot-Bitcoin ETFs propagate across the crypto market in Asian hours following the close of US share trading. On Tuesday, the digital asset embarked on its worst drop in a month in the Asian morning as the flows numbers pointed to investors pulling money out. Bitcoin was little changed at around $66,000 on Wednesday.