Bitcoin ETF Sees $242M Inflow Amid BTC Price Historical Retest

The Bitcoin ETF market saw a significant inflow of $242.3 million on August 27, indicating continued demand for spot Bitcoin ETFs despite recent market volatility.

The latest figure pushed the cumulative net flow for tracked Bitcoin ETF products to about $54.9 billion, with IBIT recording the largest inflow at around $277.6 million.

Crypto analyst Jelle pointed out a weekly bullish divergence forming as BTC moved back toward an important historical area, drawing attention to the technical setup behind the Bitcoin price.

The comparison between the current setup and September 2020 highlights how difficult it can be to identify major market bottoms while they are forming.

Despite 69% of the Bitcoin supply being in profit, around $617 billion of capitalization is estimated to be at a loss, compared with about $447 billion in profit.