The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.
Thursday, May 12, 2022, was one of the most exciting and active days in the bitcoin/crypto market in months, with no shortage of volatility and fear from market participants. On the bitcoin side of things, the price plummeted to a low of $25,300 on large volume, before quickly rebounding and closing the daily candle at $28,900. With the fall came a strong response from opportunistic investors looking to buy the dip, as shown by the Canadian Purpose Bitcoin ETF, which saw its largest day of inflows ever, adding 6,902 BTC worth nearly $207 million.