🌟Bitcoin ETFs Garner $886 Million as Hash Ribbons Indicator Hints Bullish Signal :

$BTC

On Tuesday, US Bitcoin ETFs saw $886.6 million inflows, marking their second-best day.

Bitcoin($BTC ) price surged to $71,200, with major ETFs like Fidelity and BlackRock leading in inflows.

The hash ribbons indicator suggests miner capitulation, a buy signal often follows the capitulation.

On Tuesday, US spot Bitcoin exchange-traded funds (ETFs) recorded significant inflows, totaling a remarkable $886.6 million.

This influx marks the second-best day for joint net inflows into US spot Bitcoin ETFs. With these elements at play, crypto analysts and community members consider a bullish market outlook for Bitcoin.

Bitcoin Surges to $71,200

Leading the pack, the Fidelity Wise Origin Bitcoin Fund (FBTC) saw an inflow of $378.7 million. Not far behind, BlackRock’s iShares Bitcoin Trust (IBIT) added $274.4 million. Additionally, the ARK 21Shares Bitcoin ETF (ARKB) reported strong gains, securing $138.7 million in net inflows.

Meanwhile, Bitcoin’s price soared to $71,200 in early Wednesday trading, currently trading at $71,166. On another front, the Grayscale Bitcoin Trust (GBTC) also experienced a significant inflow day, bringing in $28.2 million. This marked one of the few inflow days since it transformed from a closed-end fund to a spot ETF earlier this year.