Bitcoin ETFs experienced a surge in trading volume, with $IBIT trading $3.3 billion, the highest in six months. This spike in volume is unusual given that Bitcoin was up 4%, as ETF volume typically increases during market downturns or crises, according to Balchunas on X. However, volume can also spike during a FOMO (Fear of Missing Out) frenzy, similar to $ARKK in 2020. Given the recent surge in Bitcoin’s price, Balchunas suggests that this spike in volume is likely due to a FOMO frenzy, indicating the potential for more significant inflows in the coming week.
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