In a report issued Friday, Coinbase analysts outlined factors that could act as a support for bitcoin's price dynamics over the coming months.

"We believe bitcoin should remain well supported in the next three to six months, as more institutional players adjust to the new ETF reality," Coinbase analysts said.

Coinbase's Weekly report highlighted recent net inflows into the eleven existing U.S. spot bitcoin ETFs as an indication of how institutional participation could serve as a significant supporting factor for bitcoin price dynamics.

"We have seen tremendous net inflows, totaling an impressive over $4.2 billion year-to-date," the Coinbase analysts added.

The Block's Data Dashboard shows daily fund flows have remained net positive for over two weeks. On Wednesday, BlackRock's …