The Bitcoin (BTC) market has experienced notable dynamics in recent days. There was an 8-day streak of positive net inflows into BTC spot exchange-traded funds (ETFs) that has directly influenced the buying pressure in the market. This phenomenon has been consolidated since September 19, 2024, with the price of bitcoin remaining firmly above $63,500.
Monday, September 30 an entry was recorded net capital in bitcoin ETFs valued at $61.3 million, according to data provided by SosoValue. Although this figure It is 87% less than the 464 million dollars registered on Friday, September 26reflects a mostly upward trend. SosoValue’s analysis indicates that, since the beginning of this streak, ETFs have shown a history of mostly green entries and exits.
BlackRock led the entries with $72.1 million, followed by Fidelity with USD 8.3 million. However, not all funds followed this pattern. 21Shares’ Ark and ARKB, which had seen significant inflows last Friday, saw net outflows of $9.5 million. Likewise, Bitwise’s BITB and Grayscale’s GBTC also reported zero outflows or flows on Monday, after significantly positive days.
In the last eight days, more than $1.4 billion has been invested in bitcoin ETFs. Source: SosoValue.
The total trading volume of the 12 ETFs bitcoin traded on the US stock market, fell to $1.37 billion on Monday, compared to $1.87 billion on Friday, typically indicating a moderation in market activity.
In the last eight days, More than $1.4 billion has been invested in bitcoin ETFsa data that highlights the growing confidence in the digital asset. CriptoNoticias recently reported the highest inflow of money in two monthsunderscoring the interest in BTC-linked investment products.
From a broader perspective, Bitcoin ETFs have accumulated 3 consecutive weeks of capital inflows, exceeding 1.9 billion dollars.
A Spot bitcoin ETF is an exchange-traded fund that invests directly in BTC, tracking its price in real time. Unlike futures ETFs, these funds buy the underlying asset, generating real demand for bitcoin, directly influencing its price by increasing buying pressure.
At the close of this article, bitcoin is trading around $63,900reflecting a stability that suggests a solid foundation for the asset. Historically, October has been a bullish month for BTC. and everything indicates that this week will also close with positive inflows for ETFs, strengthening the expectation that the asset pcould end the last quarter of 2024 with significant bullish momentum.
Bitcoin shows comfort above USD 63,500. Source: CoinMarketCap.
This streak of net inflows into BTC ETFs not only supports growing interest in the digital currency, but also reinforces the narrative that traditional financial products They are increasingly integrating this asset into their offerdirectly influencing its market value.
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