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Coinjournal
4w
22
Image Credit: Coinjournal
US Bitcoin ETF inflows hit over $1.3 billion last week
- Bitcoin crossed $106,000 on 13 June, leading to institutional buying.
- BTC is currently trading near $107,000.
- Despite the ETF rebound, market signals indicate mixed short-term sentiment.
- BTC investment products experienced a significant increase in institutional inflows last week, totaling $1.37 billion.
- The inflows reversed a two-week trend of capital flight and marked the first positive weekly performance for BTC-backed ETFs since late May.
- Investor behavior shifted due to price recovery and growing interest in digital assets in traditional markets.
- Institutions closely tie their participation to BTC's price performance.
- BTC crossed $106,000 and closed the week strong, resulting in over $1 billion influx into BTC ETFs.
- Despite the spot ETF activity, the derivatives market shows caution with a decline in futures open interest.
- Bitcoin is currently trading at $106,994 with a 19% rise in 24-hour trading volume.
- The decline in futures open interest signifies a risk-off attitude among traders.
- There is a disconnect between ETF inflows and derivative market activity, suggesting a mixed outlook for BTC.
- Bitcoin remains highly sensitive to price signals, with institutional capital flows reactive to near-term performance.
- While long-term holders and institutions are confident in Bitcoin's trajectory, short-term speculators remain cautious.
- The crypto market reflects a trend where long-term belief and short-term prudence coexist.
- Bitcoin has regained institutional attention in the spot ETF space, but sustainability depends on its performance around the $106,000 level and market confidence.
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