Fidelity Bitcoin Fund Sees $23.9 Million Inflows, Analysts Remain Cautious

Fidelity's Bitcoin Fund (FBTC) received $23.9 million in new inflows on August 19, marking a shift from its recent run of outflows.

This amount only offset about 51% of the withdrawal recorded on August 12, which was $46.82 million.

Despite this positive sign, analysts remain cautious, as one inflow is not yet enough to confirm demand for the fund.

Citigroup has lowered its price target for Bitcoin to $82,000, while Standard Chartered's Geoffrey Kendrick maintains his year-end forecast of $100,000.