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Bitcoin Rally Built on $2.8 Billion in Spot ETF Inflows

Guavy AI Editorial Team
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BTC
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Bitcoin's recent surge to above $80,000 was supported by substantial spot buying rather than new leveraged positions, according to QCP Capital.

The trading firm estimated that U.S. spot Bitcoin exchange-traded funds (ETFs) attracted approximately $2.8 billion across eight consecutive sessions during the rally.

This influx of capital, combined with a decline in futures open interest from 646,000 BTC to 588,000 BTC, suggests that short covering and spot demand played a larger role than fresh leveraged longs chasing the move.

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