Bitcoin ETF Demand Hits $2.65B in Five Days Amid Rising Bond Yields

The Bitcoin market is experiencing a surge in demand for U.S. Spot Bitcoin ETFs, with net inflows of $2.65B over the past five days.

This influx of capital has flipped the ETF's year-to-date (YTD) flows positive and pushed the price of BTC to an eight-month high of $87K.

However, analysts are cautioning that this momentum is facing renewed pressure from rising bond yields and potential Fed rate hikes in October.

According to Galaxy Research data, BlackRock drove half of the ETF flows over the past five days, with other major players contributing to the surge in demand.

Despite this, analysts like James Seyffart are noting that outflows from the ETFs have been driven mainly by hedge funds and retail traders/investors.