On July 21, Bitcoin (BTC) witnessed upward momentum after witnessing steady inflows for 5 consecutive days in exchange-traded funds.
Bitcoin ETF Records Steady Inflows Despite Turmoil in Crypto Market
On July 20, Bitcoin ETFs recorded $226.8 million in inflows, according to Farside. This is the fifth straight day of positive flows, bringing the total to $723.3 million. This is the longest winning streak since May. This is a sign of a strong rebound in investor confidence after turmoil in the crypto market.
The steady inflows into Bitcoin ETFs are showing that institutional investors are comfortable with the current prices. The funds have recorded positive flows on many days in early-to-mid July, including big days like $265.7 million on July 6 and $221.7 million on July 2, which ended a 10-day outflow streak that had pulled over $2.7 billion out of the funds.
The recent run of inflows, including $181 million, $108 million, and small positive days around July 14 to July 17,
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