According to Farside Investors and Coinglass tracking data, 11 US spot bitcoin funds accumulated a net inflow of $422.50 million on Tuesday, the highest one-day net inflow since June 5, continuing a seven-day rally. In the past three days alone, these funds have collectively attracted more than $1 billion.
Data shows that since hitting a low near $53,500 on July 5, BTC has surged 23% to $65,800. In addition to ETF inflows, the price rally may also be related to the fading of selling pressure in the German state of Saxony, a significant increase in the likelihood of pro-cryptocurrency Republican candidate Donald Trump winning the US Presidential Election on November 4, and Trump's decision to appoint BTC holder and Ohio Republican Senator James David Vance as Vice President.
US spot bitcoin ETF has seen net inflows of over $1 billion in the past three days
2024-07-17 05:17:57
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