EMC Labs: Stablecoin inflows significantly decreased in May, ETF channel funds reached 1.905 billion, which may lead the price trend of BTC

Recently, EMC Labs, a crypto asset research institution, released its May 2024 report titled "Policy Factors Intensify, Purchasing Power Rallies to Find Breakthroughs".

The report points out: Accompanied by massive chip exchanges and severe market fluctuations, coupled with delayed interest rate cuts, the inflow of funds through the stablecoin channel in May was only $341 million USD, far lower than the $8.9 billion and $7 billion in March and April respectively. In contrast, fiat money through the ETF channel had an outflow on 5 trading days out of 22 in May but recorded net inflows on 17 trading days. The total monthly net inflow was $1.905 billion USD which is significantly higher than that of the stablecoin channel's $341 million USD. In May, NASDAQ's strong rebound has recovered all losses from April; currently more funds are influenced by NASDAQ via BTC ETF channels under weak domestic capital conditions thus strengthening their dominance over BTC prices. As such, upcoming trends in NASDAQ due to tech stock performance may become a major factor determining BTC price trends.