‘Only hedge funds, retail sold’ — Will BTC sustain rally as Bitcoin ETF flows turn positive?
U.S Spot Bitcoin ETFs have been on a winning streak for the past five days, effectively hauling in $2.65B in net inflows. The strong demand has flipped the ETF positive on a year-to-date (YTD) basis and lifted BTCs price to an eight-month high of $87K. However, the bullish momentum is still facing renewed bond market pressure and a potential Fed rate hike in October. Can Bitcoin ETF demand survive macro pressure? This weeks massive Spot BTC ETF demand turned YTD flows positive with $349M, according to Galaxy Research data. On Monday alone, the ETF complex attracted $1B in daily inflows. On Tuesday, they hauled in another $714M, with these figures dropping slightly on Wednesday to $346M. Discover more Crypto trading course Blockchain development tools Digital payment systems Source: Galaxy Research Overall, the ETF complex pulled in $2.65B. Out of the $2.65B demand seen over the past five days, BlackRock drove half of the ETF flows. In fact, even Bloomberg analyst James Seyffart noted that the recent traction could soon help the cumulative flows (aggregate demand since inception) turn positive too. Since last October, the cumulative flows had dipped by $12B (77.8K BTC). However, the rebound has now erased it by half. The cumulative flows, or total BTC held by the ETF complex,









