Breaking the September curse? šŸ˜…

While Bitcoin's price momentum has stalled, ETF flows have picked up—but will it be enough to escape another Red September?

šŸ“ What you need to know

Bitcoin’s price momentum has stalled in recent days, with the cryptocurrency trading largely flat. But Bitcoin ETF flows have picked up, with their biggest inflows since early August.

Those strong inflows could be the key to BTC escaping another Red September, analysts told Decrypt. With BTC steadily flowing from long-term holder wallets into ETFs, the theory goes that this ā€œuniqueā€ redistribution is being fueled by those HODLers actually converting their stacks into ETF shares.

ā€œAs long as strong new inflows are lacking, I don’t expect anything spectacular. Demand needs to pick up,ā€ CryptoQuant blockchain analyst JA_Maartun told Decrypt, explaining that ETF flows will be ā€œdecisive.ā€

Over on prediction market Myriad (launched by Decrypt’s parent company DASTAN), users remain pessimistic about Bitcoin’s next price milestone—with over two-thirds of users expecting it to drop to $105,000.

šŸ“Š Myriad Market of the Day

šŸ’¬ Quote of the Day

ā

ā€œWe have too few guardrails and too little visibility into the prediction market landscape.ā€

Outgoing CFTC Commissioner Kristin Johnson

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With Myriad, the on-chain prediction market launched by Decrypt’s parent company DASTAN, you can break the news and stake the news, using USDC and points.

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