Bitcoin quietly nudged above $79,200 early Sunday, meanwhile, the Bitcoin ETFs continue to set records.
Bitcoin hit a new all-time high just above $79,200 early Sunday morning, capping off a remarkable week in which Trump regained the White House, and Bitcoin achieved several new all-time highs. The crypto industry is optimistic that Trump will be much more favorable to crypto regulationsthat move the industry forward.
Yesterday, the Bitcoin ETFs amassed a staggering $1.36 billion in daily inflows, smashing the previous record of $1.14 billion set back in March. This isnât just a slight uptick; itâs a significant leap forward.
A whopping $1.1 billion came exclusively from BlackRockâs $IBIT fund. Thatâs rightâone fund nearly matched the total inflows of all 11 ETFs combined on their best day!
As a result, Blackrockâs BTC ETF is bigger than its Gold ETF. And it achieved this in ten months. Thatâs impressive.
Supply Shock Incoming?
On average, approximately 450 Bitcoin are mined every single day. Yesterday, the Bitcoin ETFs consumed around 18,000 Bitcoin. This means that the daily demand from these ETFs was about 40 times greater than the new supply entering the market.
The equation is simple: increased demand combined with limited supply equals rising prices. As it stands now, the total inflows into Bitcoin ETFs have reached an impressive $25.5 billionâand the numbers are still climbing.
