Bitcoin ETFs See Record Inflows as BTC Surges Past $80,000
- US-listed spot Bitcoin ETFs recorded $730.9 million in net inflows on Thursday, the highest since January.
- The surge followed $101.2 million in inflows on Wednesday and coincided with Bitcoin reclaiming the $80,000 mark.
- BlackRock’s IBIT ETF alone attracted $503 million in a single day on August 20.
- VanEck’s Bitcoin ETF (HODL) and WisdomTree’s Bitcoin Fund (BTCW) experienced outflows of $19.6 million and $5.2 million, respectively.
- CryptoQuant noted that recent price increases were mainly due to traders closing short positions rather than new long positions.
The significant inflows into Bitcoin ETFs highlight renewed interest as BTC approaches critical resistance levels, with a key threshold at around $83,000 identified by CryptoQuant.
As of now, Bitcoin has seen substantial profit-taking, realizing over 23,000 BTC in profits on August 21 alone. This reflects the ongoing volatility and investor sentiment surrounding the cryptocurrency market.
