Coinbase: US spot ETFs are now bitcoin's main source of demand
- —US spot ETFs now play a central role in supporting bitcoin
- —Traditional buyers are losing influence in the market
- —Coinbase calls current BTC demand fragile
- —Risks include inflation, geopolitics and US rate uncertainty
Why it matters: With demand concentrated in ETFs, outflows from the funds could quickly add selling pressure on bitcoin.
Source: Cointribune