Bitcoin Price Nears Key Support Level as ETF Inflows Slow, Citi Analysts Report

Analysts at Citigroup have issued a note stating that Bitcoin (BTC) is approaching a critical pre-election support level. This movement coincides with a significant slowdown in inflows into U.S. spot Bitcoin exchange-traded funds (ETFs). The report suggests that the stalled ETF momentum is a key factor putting pressure on the cryptocurrency's price, bringing it closer to a previously established floor. Market participants are now watching this support zone closely, as a break below could signal further downside. The analysis highlights the growing correlation between traditional financial instruments like ETFs and Bitcoin's market dynamics, especially in the context of macroeconomic and political events such as the upcoming U.S. election.