US-listed Bitcoin ETFs have extended their inflow streak to six days, adding $203 million. This follows a brief recovery in broader crypto market sentiment and as Bitcoin traded above $65,000.
Bitcoin exchange-traded funds (ETFs) continued their upward trend by recording another day of net inflows on Tuesday, bringing the total over six days to approximately $930 million. This marks the longest run since April and highlights strong investor interest despite overall year-to-date outflows of about $4.8 billion.
The latest inflow was driven by Bitcoin trading above $65,000, with a brief spike to $66,700 on Tuesday. As of publication, Bitcoin traded at $65,802, showing a 2% increase over the previous day according to CoinGecko data.
This market movement coincides with an improvement in broader crypto sentiment, as evidenced by the Crypto Fear & Greed Index rising from ‘extreme fear’ to just above ‘fear’. Analysts suggest that for sustained upward momentum, Bitcoin needs to break and hold levels between $65,000 and $65,500.
The funds have accumulated a total of $51.8 billion in net inflows since their inception, with current total net assets reaching $80.9 billion. Despite these positive signs, US-listed Bitcoin ETFs remain about $4.84 billion in year-to-date outflows.
This development is significant as it suggests continued institutional interest and support for Bitcoin despite market volatility. Traders should monitor the performance of other cryptocurrencies and broader market trends to gauge potential impacts on the overall crypto ecosystem.
As markets continue to fluctuate, investors will be watching closely to see if this inflow trend continues or reverses in the coming days. The success of these ETFs could influence future regulatory decisions and investor sentiment.
Source: Cointelegraph. Summarized and rewritten by the Vexoda Newsroom. This is market news, not financial advice.