Bitcoin ETFs post 5-day inflow streak, longest since May

US-listed spot Bitcoin exchange-traded funds (ETFs) have recorded their longest streak of consecutive net inflows in nearly three months, achieving five days in a row. On Monday alone, Bitcoin ETFs attracted $226.9 million in net inflows, marking the largest daily inflow since July 6. Over the full five-day period, total net inflows amounted to approximately $727.3 million, reducing the year-to-date net outflows for these ETFs to below $5 billion.

This recent five-day streak is the longest since a six-session run that took place from April 30 through May 5. The inflows coincided with Bitcoin's price climbing above $65,000, trading at $65,879 at the time of publication—a 3.3% increase over the past 24 hours according to CoinGecko data.

Simon-Peter Massabni, head of business development at XS.com, commented that this inflow trend might indicate a decrease in selling pressure rather than a definitive return of strong institutional demand. He noted that Bitcoin would need to breach and maintain levels above the $65,000 to $65,500 range to support a sustained upward trend.

The source emphasizes the significance of these inflows as a potential sign of easing selling pressure in the Bitcoin market and notes the need for further price confirmation to strengthen bullish market sentiment. Cointelegraph states its commitment to independent and transparent reporting, encouraging readers to verify information independently.