Key Insights:
- Bitcoin ETF inflows reached $754 million, making it the second-best weekly inflow of the year.
- Market analysts are still debating whether Bitcoin has found a bottom near $60,000.
- BTC price remains below the short-term holder cost basis of $67,523.
Bitcoin ETF buying rose sharply this week, with 11,792 BTC worth about $754 million moving into ETF provider wallets. The figure was the second-best weekly inflow of the year, giving the market a fresh sign of demand while BTC price remained below the short-term holder cost basis.
However, readers should note that technical projections are speculative in nature and may not accurately reflect future market behavior. This article should not be treated as personalized investment advice and is for informational purposes only.
Investors must exercise due diligence or get professional guidance while making their investment plans, as the crypto market often goes through highly volatile trading.
Bitcoin ETF Inflow Hits $754 Million
Bitcoin ETF wallets took in 11,792 BTC during the week, according to market analyst Darkfost. The coins were worth about $754 million at the prices used in the post. That made the week the second-best for ETF inflows this year.
The latest buying marks a clear change from the recent trend. ETF flows had been mostly negative since May. It also means that a large amount of Bitcoin was bought through spot ETFs during the week.
The inflow comes as traders watch the next move in BTC price. Strong ETF buying can show that investors are still willing to buy Bitcoin, even after a period of weak flows. However, one strong week does not settle the direction of the market.
The $754 million figure is also important because ETF activity has become a closely watched part of the Bitcoin market. If buying continues, it could give Bitcoin more support. If flows turn negative again, the recent increase in demand may prove short-lived.
For now, the main point is that Bitcoin ETF demand improved at a time when the market had seen weeks of poor flows.
Has Bitcoin (BTC) Price Bottomed?
Market analyst Astronomer continues to point to a $60,000 bottom call made in February amid the regaining momentum of the Bitcoin ETF segment. Back then, the view received heavy criticism. More recently, even reminders of the $60,000 target have faced strong pushback.
