Key Points:
Spot US Bitcoin ETFs witnessed the 19th consecutive day of positive inflows, totaling $132 million on June 7, according to HODL15Capital monitoring.
Despite record Bitcoin ETF inflows totaling over $15.6 billion since launch, Bitcoin's price fails to reflect the expected surge, leaving investors and analysts puzzled.
Increased demand for digital asset-focused investments, with May recording $2 billion in inflows, coincides with Bitcoin's recent correction to $69,400 following a US employment rate increase report.
On June 7, the spot US Bitcoin ETF inflows reached $132 million, marking the 19th consecutive day of positive inflows, as reported by HODL15Capital.
Read more: Bitcoin Spot ETF Explained: All Things You Need To Know!
Spot US Bitcoin ETF Inflows Mark 19th Consecutive Day
Despite this significant influx, Bitcoin's price has yet to reflect the expected surge, leaving both investors and analysts puzzled. In recent weeks, spot Bitcoin ETFs have experienced an unprecedented streak of positive flows, setting a record since their inception. BlackRock's IBIT leads the pack, which has seen substantial net inflows.
Since their launch, spot Bitcoin ETFs have amassed over $15.6 billion in inflows. However, some traders argue that this amount may still be insufficient to exert significant influence on prices until other markets open up.
Growing Comfort with Digital Assets Amidst Regulatory Perception Shift
Analysts emphasize that continued Bitcoin ETF inflows, among other factors, are poised to drive Bitcoin past key resistance levels into price discovery territory. The surge in flows coincides with a resurgence in demand for digital asset-focused investments, with May witnessing $2 billion in inflows. Investors are increasingly comfortable with these assets, buoyed by a perception of growing regulatory acceptance.
Bitcoin recently traded above $71,000. However, a correction ensued following a report of an increase in the US employment rate. As a result, Bitcoin experienced a nearly 4% decline, currently trading at $69,400.
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