U.S. Spot Bitcoin ETFs Witness 9-Day Straight Net Inflows Amid Growing Market Interest

U.S. Bitcoin ETFs (Exchange-Traded Funds) have been doing well, with nine days in a row of net inflows showing a big demand. This success highlights the growing interest and trust among investors.

From July 5 to July 17, according to SoSo Value, U.S. spot Bitcoin ETFs saw about $1.97 billion come in over nine days. This is the longest streak since mid-March when they had 19 straight positive days from May 13 to June 7. BlackRock’s IBIT was a major player, showing investors’ confidence and positive feelings about Bitcoin. This recent streak shows a comeback from the slow period in April and May.

Analysts Say BTC Post-halving Shortages and Speculations of Approval of ETH Spot ETFs May Have Contributed

Several reasons explain this impressive streak. First, Bitcoin’s halving events, which happen every four years, reduce the number of new Bitcoins being mined. The last halving in 2024 lowered supply, making Bitcoin more scarce and driving up demand. Second, the upcoming launch of Ethereum spot ETFs adds excitement. Investors expect Ethereum ETFs to do well, like Bitcoin ETFs. Ethereum’s growing ecosystem and investment potential make it very appealing.

Another factor is the U.S. Federal Reserve’s rate cuts and the political situation with the upcoming presidential election. The Federal Reserve’s decisions affect the whole financial market. Lower rates and economic stimulus can push investors toward alternatives like Bitcoin. Also, the changing political scene in Washington, D.C., can influence investor behavior.

Bitcoin’s Price Recovery

Bitcoin’s price has been up and down lately. On July 3, it dropped below $62,000, a 14% decrease from its previous high. However, it bounced back over the weekend, reaching above $62,450 after an assassination attempt on former President Donald Trump. This shows how resilient the crypto market is, bouncing back from volatility.

Pedro Lapenta, head of research at Hashdex, told Decrypt Media that Trump’s vocal support for cryptocurrencies has had a big impact on their prices. His endorsement of Bitcoin and Ethereum has caught investors’ attention, contributing to recent price changes. As politics continue to make headlines, we might see more effects on crypto markets.

Analysts Predict BTC at $100k by Year-End 

With the longest inflow streak in a month, U.S. spot Bitcoin ETFs look set to keep growing. Analysts believe Bitcoin could reach $100,000 by the end of the year, driven by factors like supply scarcity, institutional interest, and macroeconomic conditions.