Regardless of the most recent price correction, Bitcoin (BTC) demands from investors in Canada have not slumped, further showing that market players are cashing in on highly discounted prices. 

Specifically, the total Bitcoin accumulation of the Purpose Bitcoin ETF, rolled out in February, has reportedly reached the 19,692.149 figure as of June 13th, per insights by Bybt data. An addition of 284.51 BTC has been completed in the last 10 days, and approximately 2,000 BTC Since the 15th of last month. 

AS a matter of fact, the addition to the ETF holdings has reportedly been carried out during the May 19 flash crash, where Bitcoin price plummeted under the $30,000 benchmark, before a quick recovery. 

At a current BTC price of nearly $36,000, the Purpose Bitcoin ETF reportedly has a value of more than $709 million. Assets have generated a profit of more than $1.3 billion in under two months of operations. 

Per technician Byzantine General, inflows into the Purpose ETF is reportedly a sign that investors in Canada have no worries about  Bitcoin’s short-term price action.

Indeed, on a shorter time scale, Bitcoin’s price action has reportedly caused substantial worries for the bulls. The flagship crypto coin has dropped down under $40,000 throughout the last months, with every effort of returning to that level has hit rejection. 

Analysts are reportedly still having opposite predictions regarding the trajectory of Bitcoin’s market cycle, with a few believing that the market is still going the right way to achieve triple-digits threshold in 2021, while others think that the sector is barreling towards a bear market situation. 

Inflows into the Purpose fund reportedly showed investors’ attitude of favoring a longer-term perspective instead of short-term fluctuations.