Bitcoin ETF Investors Unwavering
The July 5 sell-off pushed sentiment to extreme fear according to the Crypto Fear and Greed Index. But contrary to expectations, the downturn did not cause a massive outflow of funds from ETFs. Instead, ETF investors showed resilience by taking advantage of the opportunity to buy the dip.
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Spot Bitcoin ETF inflows totaled $143.1 million, bringing total net assets to $49.15 billion on July 5. The weekend following the sell-off was marked by uncertainty, with the price of Bitcoin fluctuating between $54,400 and $58,500.
However, when the old markets reopened on July 8, ETF investors again showed their confidence by pouring an additional $294.9 million into the Bitcoin ETF, further increasing its total net assets to $49.32 billion.
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