1 Billion Entries into Spot Bitcoin ETFs in 1 Week: A Return May Be Near!

Data transmitted by on-chain analysis platform Glassnode provided a remarkable framework for spot Bitcoin ETF demand.

In its July 18 post, Glassnode featured spot Bitcoin ETF flow.

The recent declines in the cryptocurrency markets caused Bitcoin prices to decline to the bottom point at 54 thousand. This decline was notable as spot Bitcoin ETF holders fell below the average entry cost of $58,200.

Following these developments, a significant positive interest in spot Ethereum ETFs was observed for the first time since the beginning of June. There were over 1 billion new inflows into ETFs in total in the last week alone.

Experts stated that this situation is an indication that investors are following a strategy of buying at low levels.

Spot Bitcoin ETF demands signal recovery

While the decline in Bitcoin prices to 54 thousand levels in recent weeks created concern among investors, this positive movement seen in ETFs was interpreted as giving signs of recovery in the markets.

These high-amount purchases, especially by institutional investors through ETFs, revealed that confidence in the cryptocurrency markets continues.

Analysts noted that this high interest in ETFs may contribute to an increase in demand for cryptocurrency markets and a resurgence in prices.

According to CoinGecko data, Bitcoin, which has increased by 1% in the last 24 hours, is traded at $ 64,100 at the time of writing.