US Spot Bitcoin ETFs See Sixth Consecutive Day of Inflows, Bitcoin Price Rises
Quick Look
- US-listed spot Bitcoin ETFs recorded their sixth consecutive day of net inflows on Tuesday, adding $203.1 million and totaling $930 million over the streak.
- This occurred as Bitcoin traded above $65,000, improving broader crypto market sentiment from 'extreme fear' to 'fear'.
AI-generated summary
Why It Matters
US-listed spot Bitcoin ETFs have accumulated $51.8 billion in cumulative net inflows since their launch, despite experiencing $4.84 billion in net outflows year-to-date.
US-listed spot Bitcoin exchange-traded funds (ETFs) recorded their sixth consecutive day of net inflows on Tuesday, adding $203.1 million.
The Bitcoin ETFs attracted about $930 million over the six-session streak, their longest run of consecutive inflows since April, according to SoSoValue data.
The inflows came as Bitcoin traded above $65,000 and briefly climbed to $66,700 on Tuesday. At publication, Bitcoin traded at $65,802, up about 2% over the previous 24 hours, according to CoinGecko.
Broader crypto market sentiment also improved on Wednesday, with the Crypto Fear & Greed Index rising to “fear” from “extreme fear.”
The recovery comes as analysts said Bitcoin needs to break above and hold the $65,000 to $65,500 range to strengthen the case for a sustained uptrend.
The funds have accumulated $51.8 billion in cumulative net inflows since launch, while total net assets reached $80.9 billion. US spot Bitcoin ETFs remain at about $4.84 billion in net outflows year-to-date.
Open Questions
- Will Bitcoin successfully break above and hold the $65,000 to $65,500 range?
- Will the streak of consecutive net inflows into Bitcoin ETFs continue?
