Bitcoin Holds Near $65K as Crypto ETF Inflows Soar

Bitcoin traded near $65,000 on Monday after a turbulent week, while US spot Bitcoin and Ether ETFs attracted $1.1 billion in net inflows over the past week.

The cryptocurrency's price has been volatile in recent days due to various factors such as a hardware wallet security exploit and a minority-chain split.

However, the inflows into US spot Bitcoin and Ether ETFs suggest that investors are cautiously optimistic about the market's prospects.

Akshat Siddhant, Lead Quant Analyst at Mudrex, noted that Bitcoin is holding just below the $65,000 level after weathering a turbulent week.

The next major test for the market will come on August 12, when the US releases its July CPI inflation print.