Wall Street is pouring into Bitcoin ETFs: why BTC is still trapped below $80,000
Market / Price
Bitcoin traded near $80,000 on Monday despite another strong week of inflows into US spot Bitcoin ETFs. US spot Bitcoin ETFs attracted $986.9 million last week, extending their inflow streak to three weeks and bringing the total over that period to about $3.8 billion. BlackRock's IBIT accounted for $691.5 million of those inflows, but Bitcoin was still trading below $80,000 on Monday after briefly moving above $81,000 last week. That disconnect suggests ETF demand is helping support the market without yet creating enough buying pressure for a sustained breakout. ETF money is building a floor, not yet a breakout Last week's $986.9 million of net inflows followed $924.5 million the previous week. August brought another $3.
BTC
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