Bitcoin ETF Inflows Soar $170M as Institutional Investors Pile In

A significant influx of institutional investment into Bitcoin ETFs has been observed. According to data from Farside Investors, on August 3rd, a net inflow of $170.1 million was recorded in Bitcoin ETF flows.

The largest contributors to this influx were IBIT and FBTC, which accounted for $111.4 million and $33.4 million respectively.

The price action on the BTC 4h chart shows that it is holding above both its EMA50 at $63707.27 and EMA200 at $63690.08, indicating a bullish trend.

The MACD has printed a golden cross at -22.16, while the RSI stands at 54.19, suggesting room for further continuation towards the next volatility target before any potential pullback to the 50-EMA support zone.