Bitcoin $BTC ETF has received inflows for four consecutive weeks, and the market is waiting for Trump's speech at a major cryptocurrency conference this week #美国大选如何影响加密产业？

With the price of cryptocurrencies rising to its highest level in more than a month, funds continue to flow into the field. Last week, Bitcoin ETF investment products recorded an inflow of $1.27 billion, which was the fourth consecutive week of inflows for such ETFs, and a total of more than $3.1 billion in inflows in four weeks. In sharp contrast, in the two weeks before the Bitcoin ETF received inflows for four consecutive weeks, funds had accumulated outflows of $1.2 billion from such ETFs. Among the major Bitcoin ETFs, BlackRock and Fidelity's Bitcoin ETFs were the money-making winners last week, receiving inflows of $707 million and $244 million, respectively.

Grayscale's Bitcoin ETF continued to record outflows, with an outflow of about $56 million. The price of Bitcoin fell below the $54,000 mark during trading on July 5, the lowest point since February this year. Subsequently, the digital currency rebounded and has continued to rise recently, breaking through $67,000 at one point, with a cumulative rebound of about 25%, mainly benefiting from the increased possibility of Trump's election as the US president.

On Sunday local time in the United States, US President Biden announced his withdrawal from the 2024 presidential election. Biden said that he would fully support and recognize US Vice President Harris' nomination as the Democratic presidential candidate. Therefore, after the news of Biden's withdrawal came out, the cryptocurrency fell briefly, but then rose and stabilized. #山寨季何时到来？

Generally speaking, there is no fear of Harris. Industry insiders analyzed that the cryptocurrency market is close to a 6-week high. From a dynamic point of view, the market seems to be stagnant, waiting for new signals, which may be statements from politicians or important economic data.