<ul data-eligibleForWebStory="true"><li>Spot Bitcoin ETF flows continue to heavily influence price movements, with a strong correlation between ETF inflows and BTC returns.</li><li>Bitcoin ETFs added 13,000 BTC in the past month, the weakest 30-day inflow since April 23, closely mirroring recent price action.</li><li>Bitcoin treasury companies have had a less consistent impact on BTC pricing compared to ETFs, with many new entrants relying on in-kind share swaps.</li><li>Geopolitical tensions have impacted Bitcoin derivatives markets, with Bitcoin briefly dipping amid U.S.–Iran conflict fears, but rebounding on ceasefire news.</li></ul>

Bitcoin’s Fate Still Tied to ETFs, Not Corporates, K33 Report Finds

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