Is There a 'Significant' Correction on the Horizon?

The chart of the day is presented by crypto.com, the leading crypto platform trusted by over 80 million users worldwide. Let's take a look at the chart of the day. The analyst who predicted Bitcoin's bottom in November 2022 and the recent surge to record highs has turned bearish on risk assets that's including tech stocks and cryptocurrencies. Ted X research founder Marcus Thin said in a note to clients that the firm's growing concern is that risk assets are teetering on the edge of a significant price correction. The primary trigger being unexpected and persistent inflation, the bullish catalyst of 2024 the approval of spot Bitcoin ETF S in the United States saw $12 billion flow into the investment vehicles. But our chart today shows that most flows happened last quarter, catapulting the Cryptocurrency higher. But according to the chart demand has faded, the five day average of net inflows into spot ETF S has dropped to zero T and saying that after initial novelty hype ETF flows tend to run out unless prices continue increasing. That's it for today's chart of the day. I'm Jen Sani. We'll see you next time to unpack more of the data behind top news stories.