On July 6, following US Independence Day, the Bitcoin (BTC) price fell below $54,000 and Spot Bitcoin (BTC) ETFs experienced a massive outflow. According to Farside tracking, $143.1 million is flowing into these financial products, marking their largest net inflow in the last month.

Fidelity Bitcoin ETF (FBTC) led with an impressive $117 million in inflows, while Bitwise Bitcoin ETF (BITB) recorded net inflows of $30.2 million. On the other hand, Grayscale Bitcoin Trust (GBTC) experienced a net outflow of $28.6 million.

Despite recent market volatility, large inflows into these ETFs suggest that institutional investors and large-scale buyers are taking advantage of the decline and accumulating Bitcoin at lower prices.

In a post on social platform X, Hunter Horsley, CEO of Bitwise Asset Management, highlighted his team's efficiency in purchasing Bitcoin. Horsley emphasized a strong outlook for Bitcoin and suggested that current market conditions present a valuable buying opportunity for both new and existing investors.

Despite this, renowned Bitcoin critic Peter Schiff offered his own perspective on the resistance of Bitcoin ETF investors. Schiff stated that these investors continue to hold their assets and show no signs of panic. He also predicted that a significant sell-off could occur soon, leading to a capitulation among Bitcoin holders.

Bitcoin (BTC), Japanese crypto exchange Mt. Gox crashed, falling to $55,200 on Coinbase. Mt. Gox transferred 47,229 Bitcoins worth $2.71 billion at current prices to a new wallet address, its first major transaction since May. We are waiting your comments.#Bitcoin#ETF #Crypto