ETF Investors Brought a Lifeline to Bitcoin: The Highest Entry in 2 Weeks Was Seen!

Spot Bitcoin ETF investors took advantage of the Bitcoin decline and made large purchases.

Bitcoin ETF investors turned the sharp decline in the cryptocurrency market into an opportunity. Bitcoin dropped below $54,000 in the morning hours of Friday (GMT+3) and then showed signs of a slight recovery.

US investors realized that Bitcoin experienced a historic decline following the Independence Day holiday on July 4th and bought according to ETF data.  According to the post by Farside Investors, Bitcoin ETFs recorded a net inflow of $143.1 million on Friday, the highest inflow in the last two weeks.

Fidelity's Wise Origin Bitcoin Fund (FBTC) attracted $117.4 million in net new investment, and other funds also showed positive inflows.

According to CoinGecko data, Bitcoin price rose from an average of $61,000 on Wednesday to Mt. Gox's start of repayments fell sharply in parallel with the sales in Germany and the USA, falling below 54 thousand dollars. Bitcoin, which later experienced some recovery, is trading at $57,100 at the time of writing, approximately 23% below its all-time high of $73,500.