Bitcoin ETF flows to highest level in months as Bitcoin price rises above $68,000



Ronaldo Marquez

1 hour ago





After enduring a major 20% correction earlier this month that saw Bitcoin fall below $56,400 and increased outflows from the Bitcoin ETF market, the world's largest cryptocurrency has managed to stage a strong comeback. It broke the key resistance level of $66,000 and turned it into a new support area.

BTC bounces back as Bitcoin ETF inflows surge

The rise in the price of Bitcoin has been closely linked to renewed inflows into the US Bitcoin ETF market. Data from Farside shows that spot bitcoin ETFs had their best flow week in two months, with the US fund class collectively generating $948 million in net positive flows from May 13 to May 17.

Interestingly, the majority of these inflows, roughly 89%, occurred in the last three trading days of the week, which industry analysts and researchers like James Butterville of CoinShares attribute to the shift in investor sentiment following the release of a lower-than-expected index report. Price index