Bitcoin ETFs Attract Record $854M as Market Faces Security Incident

Bitcoin saw its largest weekly inflow since April as $854M poured into U.S. spot ETFs between August 3-7.

This surge in institutional demand comes amidst a major self-custody security incident and fears of a crypto market crash, but sustained investment continues to counter these concerns.

The price of BTC currently sits at $65271.19, testing the upper resistance level of $65425.77 within its Bollinger Bands.

While the 50-EMA at $64548.49 and 200-EMA at $63767.0 provide layered support, the RSI at 61.46 is neutral, and the MACD is flashing a death cross, indicating a possible pullback toward the 50-EMA before continuation.