Bitcoin extended recovery above $65K amidst renewed interest from Bitcoin ETFs that has seen record YTD (year-to-date) flows of $16 billion.
The BTC ETFs hit a new milestone, $16 billion in net flows within six months, outperforming estimates by Bloomberg analysts, which projected $12–$15 billion in net flows in 12 months.
“YTD net total has crossed +$16b for first time. Our est for first 12mo was $12-15b, so already cleared that with 6 months to go.”Interestingly, the recent BTC recovery above $60K also saw renewed inflows into the ETFs. Balchunas added that the products were in “two steps forward” mode after netting +$300 million on 15th July and about $1 billion on a weekly adjusted basis.BlackRock has recorded remarkable growth amongst the US spot BTC ETFs. On Tuesday, the firm’s iShares Bitcoin Trust netted $260 million in net flows and hit $1 billion in daily trading volume value.revealed that BlackRock was the best performing BTC ETF as of press time, with $20.9 billion in assets.
It traded at $65.4K but hit key resistance and breaker block area . A convincing move above the obstacle could accelerate a retest of the range-high at $71K.“Our key risk/reward chart shows recovery towards a bullish environment. The Bitcoin Risk Signal has recovered but remains in high-risk territory.”Benjamin is a Telecommunication Engineering graduate who is passionate about crypto-markets and unraveling market trends.
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