US spot Bitcoin exchange-traded funds (ETFs) experienced a significant surge of nearly $295 million in net inflows on July 8th, marking a return to the high buying activity last seen in June. Major funds have rebounded despite Bitcoin's downward pressure.

BlackRock's IBIT led the ETF inflows with $187.21 million, the highest in a month, followed by Fidelity's FBTC with $61.54 million. Grayscale's GBTC and Bitwise's BITB also attracted substantial investments. However, some ETFs, including Invesco and Galaxy Digital's BTCO, recorded no flows for the day.

Despite Bitcoin facing intense selling pressure due to repayments linked to the defunct Mt. Gox exchange and the German government's transfer of hundreds of millions in BTC to exchanges, CoinShares suggests this dip has presented a buying opportunity for investors. Experts believe the Bitcoin market can absorb potential liquidity dumps from the German government and Mt. Gox creditors, estimating a combined impact leading to a drop of around 10.5% to the $47,000-$48,000 level.