Charles Schwab Analyst Sees Long-Term Bitcoin (BTC) Momentum Holding Despite Pullback

Charles Schwab analyst Adam Lynch said Bitcoin (BTC) retains longer-term momentum despite a pullback, calling ETF inflows “much more constructive” than a year earlier as Bitcoin and Ether remained down year over year. In Oct. 15 commentary, Lynch described Bitcoin as having dipped below $80,000 before rebounding. He put Bitcoin’s decline from a year earlier at 25% and Ether’s at 35%. Cumulative net inflows into U.S. spot Bitcoin ETFs reached $56.949 billion through the Friday, Oct. 16, U.S. trading session. Daily flows were mixed: the funds recorded a $261.4 million net outflow Wednesday, Oct. 14, a $5.1 million inflow Thursday, Oct. 15, and an $82.4 million outflow Friday, Oct. 16.

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