US-based spot Bitcoin ETF holders are showing firm conviction despite a four-month downtrend, with losses at around 42% as Bitcoin hovers below $73,000. Pre-downturn net inflows of $62.11 billion have fallen to $55 billion. Analysts warn holders are being short-sighted as Bitcoin’s price drops and outflows continue for a third consecutive month.

Investment researcher Jim Bianco notes the average Bitcoin ETF holder is 24% underwater. Crypto analytics account Rand highlights three consecutive months of outflows, a first in history. Bitcoin’s spot price has fallen by 24.73% over the past 30 days to $70,537. Analysts caution investors to consider the bigger picture for Bitcoin’s performance.

ETF analyst Eric Balchunas points out that Bitcoin outperformed gold and silver by over 400% since 2022, despite recent losses. CryptoQuant CEO Ki Young Ju states that every Bitcoin analyst is now bearish. Market experts urge Bitcoin investors to consider the long-term performance of the asset compared to traditional investments like gold and silver.

Read more at Cointelegraph: Bitcoin ETFs ‘Hanging In There’ Despite Price Plunge: Analyst