US Bitcoin (BTC) spot Exchange-Traded Funds (ETFs) saw a convincing third day of capital inflows yesterday, pulling in more than $200 million, similar to the day before, marking an impressive performance.
The Bitcoin price is also coming out of its shell more and more and has climbed past $59,000. All in all, the sentiment on the crypto market seems to be getting better and better.
Best 3-Day Streak for BTC Funds in a Long Time
Yesterday, the BTC funds launched in January welcomed a total of $216.4 million, data from Farside Investors shows.
BlackRock’s IBIT fund took the top spot yesterday with $121 million in net inflows. Fidelity’s FBTC fund had to settle for second place, with $91 million in net inflows.
Grayscale’s GBTC fund was the only one to see out money, with net outflows of $37.5 million marking its worst trading day since June 24.
With the recent inflow of over $200 million, the funds continued their excellent trading streak that has been going on since last Friday. On Friday, the funds had posted their best performance in weeks with an inflow of $143.1 million, followed by a stunning inflow of $294.8 million on Monday.
The last time Bitcoin ETFs saw three consecutive trading days of more than $100 million was in early June. If the streak were to reach a fourth day today, it would mark the first time since mid-May.
BTC price battles crucial resistance
Not only are Bitcoin exchange products flourishing more and more, the underlying Bitcoin price is also showing increasing strength.
After two consecutive green days, Bitcoin made another big jump in price last night, peaking at around $59,500. The price is now in conflict with $59,000, which marks a crucial resistance.
The bulls seem to be gaining more and more control, but reclaiming $59,000 is essential to maintain positive momentum. If Bitcoin fails to do so, another pullback to the low $50,000 regions could be looming.
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Source: https://newsbit.nl/bitcoin-etfs-zetten-succesreeks-voort-meer-dan-200-miljoen-instroom/
