ETF Demand Powers Bitcoin's Price Surge Amid Selloff Pressure

Bitcoin's price movement last week was influenced by strong institutional demand through U.S. spot ETFs, which absorbed about 13,300 BTC in one week.

This is more than four times the roughly 3,150 BTC newly created by the network, according to a recent Bitfinex Alpha report.

BlackRock's IBIT and Fidelity's FBTC accounted for much of the ETF activity, with $865.3 million in net inflows across five straight sessions - the funds' strongest weekly showing since April.