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Bitcoin ETFs extend longest inflow streak in nearly three months
US spot Bitcoin ETFs pulled in $226.9 million on Monday, lifting five-day net inflows to about $727.3 million and narrowing year-to-date net outflows to under $5 billion.
US spot Bitcoin exchange-traded funds extended a five-day run of net inflows, marking their longest winning streak in nearly three months, according to Cointelegraph citing data from SoSoValue.
The outlet reported that Monday’s inflows totaled $226.9 million, the strongest daily figure since July 6, bringing total net inflows over the five-session stretch to about $727.3 million.
Cointelegraph said the five-day streak is the longest consecutive period of inflows since a six-session stretch from April 30 through May 5, and that Monday’s ETF flows reduced year-to-date net outflows for US spot Bitcoin ETFs to below $5 billion.
The report added that Simon-Peter Massabni, head of business development at XS.com, characterized the inflows as suggesting selling pressure may be easing, while noting Bitcoin would need to break and hold above the $65,000 to $65,500 range to support a sustained uptrend. At the time of publication, Cointelegraph said BTC traded around $65,879, up 3.3% over the past 24 hours, based on CoinGecko.
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