On-chain analyst Axel Adler Jr. analyzed via X that "as Bitcoin entered the late stage of a bear market, signs of easing selling pressure appeared for the first time in the spot ETF market." On the most recent trading day, a total of $223 million flowed into US spot Bitcoin ETFs. Among these, Fidelity's FBTC recorded $166 million and Ark's ARKB recorded $91.8 million, absorbing most of the funds. He assessed that this net inflow is a signal indicating the possibility of institutional investment demand recovering during the bear market phase.
