Spot Bitcoin ETFs have experienced around $1.17 billion in outflows over the past five trading days, marking the longest decline since April. Despite this, crypto entrepreneur Anthony Pompliano suggests that Bitcoin's current price of approximately $112,870 may be oversold. During a CNBC appearance, he indicated potential for a price recovery as demand typically increases in September and October, post the April 2024 halving. Historically, Q3 is Bitcoin's weakest quarter, averaging just 6.02% returns, while Q4 shows significant gains, averaging 85.42%. Pompliano noted that this historical trend can encourage buying behavior as people anticipate a similar pattern. Although he believes in Bitcoin's future growth, he expressed skepticism about it reaching $1 million in this cycle, although he projected that could happen by 2030.

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