🚀🚀ETF Investors Brought a Lifeline to Bitcoin: The Highest Entry in 2 Weeks Was Seen! 🚀🚀
Spot Bitcoin ETF investors turned the sharp decline in the cryptocurrency market into an opportunity and made large purchases.
Bitcoin ETF investors took action by taking advantage of the recent decline. Bitcoin fell below $54,000 in the overnight hours of Friday (GMT+3) and then made a slight recovery.
US investors realized that Bitcoin had experienced a historic decline after the July 4 Independence Day holiday and bought according to ETF data. According to Farside Investors' post, 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.
Bitcoin price rose from an average of $61,000 on Wednesday to Mt. Gox's repayments fell below $54,000, falling sharply in line with sales from Germany and the United States. Bitcoin, which has since recovered somewhat, is now trading at $57,100, about 23% below its all-time high of $73,500.
