Bitcoin ETF Flows Swell as MicroStrategy Buys and IBIT Surpasses $98B

The month of August saw significant inflows into Bitcoin (BTC) through spot ETF flows, amounting to around $2.8 billion. The largest influx occurred on August 17, with approximately $1.92 billion pouring in. However, the following week, the flow slowed down to about $923 million. Notably, there was a slight outflow of $203 million on August 28.

Meanwhile, MicroStrategy purchased an additional 4,603 BTC between August 24 and 30 at an average price of around $80,318 each, bringing their total holdings to 845,050 BTC. The company's average cost per Bitcoin is approximately $75,412. At the time of these purchases, market quotes for BTCUSD were ranging from $78,000 to $78,585.

BlackRock's Invesco BITCOIN TRUST (IBIT) reached a new high of around $98.6 billion after experiencing significant inflows of approximately $55 billion. The ongoing volatility in the BTCUSD spot CFD market is driven by macro pressure and key resistance levels.