July Weakness: Bitcoin Buyers Stay Away from $58,000 Low
Despite Bitcoin dipping below $58,000 at the start of July, there hasn't been a strong buying interest.
Data from on-chain indicators shows that new buying appetite was limited between July 1st and July 5th.
Crypto analyst Willy Woo pointed out that the recent buying activity in BTC could have come from just one large investor.
In August, US spot Bitcoin ETFs saw a net inflow of $3.8 billion over three weeks.