Bloomberg: Token volatility in Asian markets may be caused by Bitcoin algorithms tracking ETF fund flows

Bitcoin investors in the Asian market are facing significant volatility, possibly due to automated trading protocols reacting to the flow of funds data for US ETFs holding cryptocurrencies.It is reported that the demand levels for these Bitcoin spot ETFs spread throughout the entire cryptocurrency market during the Asian session after the daily data is released following the close of US stock market trading. On Tuesday, digital assets saw the largest drop in a month when the flow of funds data showed investors were withdrawing."From the perspective of algorithmic trading, robots can crawl and buy and sell based on this data," said Shiliang Tang, President of Arbelos Markets. "It seems that this is what is happening."