Summary
- Bitcoin ETFs recorded $301 million inflows yesterday.
- BTC is trading above $64,000 today, up by almost 3%.
The crypto market seems to be regaining momentum, with the US Bitcoin ETFs seeing their 7th consecutive day of inflows.
According to the latest reports coming from SoSoValue, BTC ETFs saw $301 million in inflows on July 15.
Here are the inflows in the US-based crypto products from yesterday, according to official data:
- BlackRock’s Bitcoin ETF, IBIT, saw $117.25 million in inflows.
- Fidelity’s Bitcoin ETF, FBTC, saw $36.15 million in inflows.
- Ark Invest and 21Shares’ Bitcoin ETF, ARKB, saw $117.19 million in inflows.
- Bitwise’s Bitcoin ETF, BITB, recorded $15.24 million in inflows.
- VanEck’s Bitcoin ETF, HODL, saw $3.6 million in inflows.
- Invesco and Galaxy Digital’s Bitcoin ETF, BTCO, recorded $7.93 million in inflows.
- Franklin Templeton’s Bitcoin ETF, EZBC, saw $3.69 million in inflows.
The other Bitcoin ETFs did not record any inflows or outflows the previous day.
According to the same reports from SoSoValue, the total net assets in Bitcoin ETFs are $56.72 billion.
Bitcoin Price Above $64,000
Regarding Bitcoin’s price today, the coin is trading above the important level of $64,000. BTC saw a price rebound following the past weekend and at the moment of writing this article, it’s up by over 2% in the past 24 hours.
BTC’s price is rising amidst institutional money pouring into the crypto market. On July 15, we reported that CryptoQuant who cited data from the popular trader Crypto Dan, US whales have been accumulating BTC.
According to the reports, the movements of US whales which recently recorded a selling trend, had recently turned into buy, and the rebound is compensating for the previous decline.
Analysts foresee the opportunity for a further rebound, following a period of intense volatility.
Also, on July 15, CryptoQuant shared a post via X, about the Bitcoin aSOPR metric, stating that what is certain is the fact that this metric has not yet reached the top level, which is around 1.1, in the previous cycles.
According to their notes, Bitcoin has experienced this level in previous cycles ahead of a bull run. This could be similar to the scenario that happened back in July 2019, according to them.