Crypto
Bitcoin Reclaims $65K on Four-Day Spot ETF Inflow Streak
Bitcoin's price has reclaimed the $65,000 mark driven by four days of spot Bitcoin ETF inflows, which saw $626 million added to U.S. spot Bitcoin exchange-traded funds.
The largest contributor was BlackRock's IBIT, accounting for roughly $479 million, or about 76%, of the three-day total.
Other factors supporting the price include whale accumulation and reduced leverage-driven selling, with 24-hour liquidations falling about 68% to $17.63 million.
However, the bounce lacks conviction, with new SEC filings showing that BlackRock's spot Bitcoin and Ethereum ETFs recorded a combined $3.5 billion net decrease from capital-share activity in the second quarter.