Europe buys the dip as US funds keep bleeding – who is buying Bitcoin right now?
Despite five weeks of US outflows from crypto products, Europe and Canada posted inflows, suggesting a regional shift in risk appetite driven by US regulatory uncertainty.Summary
Digital asset investment products experienced five consecutive weeks of net outflows totaling $4 billion, with US products seeing $347 million in outflows in one recent week, while Europe and Canada together recorded $59 million in inflows. This divergence is attributed to heightened regulatory uncertainty in the US following a Supreme Court ruling on tariffs, which has caused American allocators to reduce exposure through easily trimmed, compliant products to maintain liquidity. Conversely, European and Canadian investors, who are less directly exposed to the domestic political friction, appear to be employing a slower, allocation-driven strategy, viewing the price dip as an opportunity to buy through regulated vehicles like ETPs. While the non-US bid is not large enough to offset US selling, this marginal buying matters during low-volume periods, suggesting that the identity of the marginal buyer is shifting geographically, even if overall market participation remains subdued.
(Source：CryptoSlate)