Bitcoin (BTC) has turned the needle: Data is coming positive.

#Bitcoin (BTC), which rose above $58,000 as of September 9, relieved the cryptocurrency market, albeit briefly.

Bitcoin, which has been struggling with selling pressure in recent days, attracted attention with an upward movement on September 9. The admiral of cryptocurrencies, which quickly tested $58,000, gave confidence to the market even though it retreated somewhat. One of the biggest supporters of the rise was spot ETFs. Spot $BTC ETFs ended an eight-day negative flow series and reported a net inflow of $28.72 million.

According to SoSoValue data, Fidelity's #FBTC was the stock with the most inflows yesterday with $28.6 million inflows. It was followed by Bitwise's BITB, which saw an inflow of $21.99 million. Ark Invest and 21Shares’ ARKB reported smaller inflows of $6.81 million, while Invesco’s BTCO saw $3.14 million inflows into the fund.

Monday’s inflows were offset by outflows of $22.76 million from Grayscale’s GBTC. BlackRock’s IBIT, the largest spot BTC ETF by net assets, saw net outflows of $9.06 million.

Finding support just below $52,000, #BTC tested $58,000 within a few days. However, it fell back to the $56,800 range. As of writing, Bitcoin, which is trading at $56,814, could head toward $63,000, $64,777, $67,091, and $70,000, respectively, if it holds above $59,650. In the downside scenario, the $56,602 – $52,838 and $50,580 levels can be followed as support, respectively.