Crypto
Bitcoin ETFs Draw Record $3.5 Billion in August
US-listed Bitcoin exchange-traded funds (ETFs) saw their largest monthly inflow in over a year, attracting $3.5 billion in August.
This influx is largely attributed to Treasury Secretary Scott Bessent's announcement of expanded Treasury buybacks, which weakened the dollar and sparked renewed interest in risk assets like Bitcoin.
As a result, Bitcoin prices surged 25% during the month, its strongest monthly performance since November 2024.
However, experts warn that Bitcoin still needs to establish itself above $80,000, which is seen as a key resistance zone given the average purchase price for investors in spot-Bitcoin ETFs.