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Crypto

Bitcoin Price Steady After $170M Flows Into US Spot ETFs

Guavy AI Editorial Team
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BTC
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Bitcoin has started August 5 on steady ground after a day of mixed signals. The price rose by 0.62% over the last 24 hours, outperforming the rest of the crypto market due to institutional buying offsetting bearish news.

The U.S. spot Bitcoin ETFs saw more than $170 million in net inflows on August 4, with BlackRock's IBIT pulling in $111.43 million. This fresh support came after Bitcoin bounced from the $62,200-$64,000 range.

Despite concerns about exchange inflows and regulatory uncertainty, several factors could decide where Bitcoin ends the day: ETF demand, easing tensions in the Middle East, and improving risk sentiment overall.

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