Bitcoin ETF Inflows Surge Past $2 Billion Amid Regulatory Wins

The price of Bitcoin has rebounded to near $80,000 after a recent surge in regulatory wins for the industry.

Last week saw five consecutive days of inflows totaling nearly $2 billion into Bitcoin exchange-traded funds (ETFs), according to Farside Investors. Despite these inflows, year-to-date net outflows from Bitcoin ETFs still total about $2.8 billion.

Citi's Alex Saunders emphasized the importance of continued ETF flows in driving price action, stating that 'ETF flows remain the key catalyst to watch' and are 'the most-important driver of price action.'