Bitcoin ETFs See Record Inflows as BTC Surpasses $80,000
- Bitcoin ETFs recorded net inflows of $730.9 million on Thursday, the highest since January.
- The surge followed $101.2 million in inflows on Wednesday and coincided with BTC reclaiming the $80,000 level.
- BlackRock’s IBIT ETF alone attracted $503 million in inflows recently, marking significant interest.
- VanEck’s Bitcoin ETF (HODL) and WisdomTree’s Bitcoin Fund (BTCW) experienced outflows of $19.6 million and $5.2 million, respectively.
- On August 21, Bitcoin holders realized a record profit of approximately 23,000 BTC for the day.
Despite the significant inflows into Bitcoin ETFs, analysts caution about Bitcoin’s rally due to weaker spot demand and heavy short covering. The next critical resistance level is around $82,300 based on historical moving averages.
As Bitcoin approaches key thresholds, the recent inflow of nearly $731 million underscores growing institutional interest despite mixed signals regarding market demand.
