Investors in Bitcoin ETFs bought the dip on Friday, with over $140 million in inflows.
Since falling below $54,000 early on Friday, the price of the largest cryptocurrency in the world has only slightly recovered.
Getting back to their screens following the July 4 break, U.S. brokers were stood up to with a memorable dive in bitcoin (BTC) that saw its cost fall over 10% from the pre-occasion level. They decided to raise the offer based on data from the ETF.
The net inflows into U.S.-based spot bitcoin ETFs on Friday reached $143.1 million, the highest level in at least two weeks, according to data compiled by Farside Investors.
Fidelity's Wise Origin Bitcoin Fund (FBTC), which received $117.4 million in net new money, led the way. The VanEck Bitcoin Trust (HODL), the ARK/21 Shares Bitcoin ETF (ARKB), and the Bitwise Bitcoin ETF (BITB) were the other funds that saw net inflows. Grayscale Bitcoin Trust (GBTC), which charges a high fee, continued to lose assets as usual.
Bitcoin ETF Flow (millions of US dollars) as of 2024-07-05 Total Net Flow: IBIT: 143.1 (Provisional data) 0
FBTC: 117.4
BITB: 30.2
ARKB: 11.3
BTCO: 0
EZBC: 0
BRRR: 0
HODL: 12.8
BTCW: 0
GBTC: -28.6
DEFI: 0
Concerning cost activity, bitcoin has seen an extremely unassuming of skip since tumbling from almost $61,000 Wednesday to under $54,000 early Friday, as of now exchanging back to $56,800. That is down 6% from the previous week's levels and roughly 23% from its mid-March all-time high of over $73,500.
Concern about a significant increase in supply, as trustees of the defunct exchange Mt. Gox began returning 140,000 bitcoin to former customers and the German government reportedly moved to sell at least some of the thousands of bitcoin it holds, were to blame for this latest price drop.
Since falling below $54,000 early on Friday, the price of the largest cryptocurrency in the world has only slightly recovered.
Getting back to their screens following the July 4 break, U.S. brokers were stood up to with a memorable dive in bitcoin (BTC) that saw its cost fall over 10% from the pre-occasion level. They decided to raise the offer based on data from the ETF.
The net inflows into U.S.-based spot bitcoin ETFs on Friday reached $143.1 million, the highest level in at least two weeks, according to data compiled by Farside Investors.
Fidelity's Wise Origin Bitcoin Fund (FBTC), which received $117.4 million in net new money, led the way. The VanEck Bitcoin Trust (HODL), the ARK/21 Shares Bitcoin ETF (ARKB), and the Bitwise Bitcoin ETF (BITB) were the other funds that saw net inflows. Grayscale Bitcoin Trust (GBTC), which charges a high fee, continued to lose assets as usual.
Bitcoin ETF Flow (millions of US dollars) as of 2024-07-05 Total Net Flow: IBIT: 143.1 (Provisional data) 0
FBTC: 117.4
BITB: 30.2
ARKB: 11.3
BTCO: 0
EZBC: 0
BRRR: 0
HODL: 12.8
BTCW: 0
GBTC: -28.6
DEFI: 0
Concerning cost activity, bitcoin has seen an extremely unassuming of skip since tumbling from almost $61,000 Wednesday to under $54,000 early Friday, as of now exchanging back to $56,800. That is down 6% from the previous week's levels and roughly 23% from its mid-March all-time high of over $73,500.
Concern about a significant increase in supply, as trustees of the defunct exchange Mt. Gox began returning 140,000 bitcoin to former customers and the German government reportedly moved to sell at least some of the thousands of bitcoin it holds, were to blame for this latest price drop.
