According to IntoTheBlock data, since the launch of the spot Bitcoin ETF in January, the weekly net outflow of Bitcoin from exchanges has been consistently increasing. This week, the net outflow reached $540 million, marking the highest amount since June 2023.
This reflects a belief in Bitcoin's potential as a store of value and a hedge against inflation. Long-term holders and institutional investors, in particular, may be taking a more strategic approach to their Bitcoin holdings, viewing them as a strategic asset allocation rather than a short-term speculative investment.
Bitcoin is definitely much more than a short term speculative investment indeed, because for me, the market seasons must be in effect at any given time and the rush to withdraw HODLings either to settle pressing matters or reinvest or trade affects the profit an investor should gain from it.
That's why long term HODLing is more rewarding in more ways than one and with BTC still retaining its value with a good noticeable profit margin for the investor.
BTC ETF is sure gaining traction by the day with much more than individual investors grabbing a share by investing in value rather than get- rich- quick investment like shitcoins.
There might just be the notion that the ETF has done way better than the Ordinals initiative since the launch till date, but this is an argument am not ready to begin.