Balchunas: IBIT Flow Pattern Signals Bullish Momentum for Bitcoin ETFs

BitcoinWorld Balchunas: IBIT Flow Pattern Signals Bullish Momentum for Bitcoin ETFs Bloomberg Intelligence senior ETF analyst Eric Balchunas has identified a bullish signal in the recent daily flow data for BlackRock’s spot Bitcoin ETF (IBIT).

According to Balchunas, the fund’s flows last week formed a pattern he calls ‘Flipping the Bird,’ characterized by a taller middle bar flanked by smaller bars on either side. This pattern, he suggests, is typically a positive indicator for the underlying asset.

Context of the Flow Pattern The ‘Flipping the Bird’ pattern is a visual formation observed in bar charts of daily fund flows. It indicates a mid-week surge in inflows, surrounded by relatively lower activity.

Balchunas, known for his data-driven analysis of ETF flows, often uses such patterns to gauge market sentiment and potential short-term price movements.