ETF Frenzy: U.S. Spot Funds Absorb $865 Million in Bitcoin

Bitcoin's price has been pushed toward the top of its trading range as U.S. spot ETFs have attracted significant attention from institutional investors.

The funds absorbed about $865.3 million in net inflows over five consecutive sessions, with a total of around 13,300 BTC being added to their holdings.

This is the strongest weekly inflow since April, and it's been largely driven by cooler U.S. employment data that reduced expectations for an immediate Federal Reserve rate hike.

However, despite this bullish sentiment, persistent selling pressure has kept Bitcoin's price contained within its range.