The Bitcoin ETF is back! $15 million inflow after BTC price hits 10-day high

Bitcoin price rebounded sharply this week. The analyst stated that interest in investing in Bitcoin ETFs has returned.

Bitcoin price closed above $69,000 on March 25 due to bullish sentiment. This is a return to control of the important resistance area.

Bitcoin price hits 10-day high on ETFs

Data from leading cryptocurrency market analysis platform Cointelegraph Markets Pro and TradingView confirmed that the BTC/USD currency pair closed today at a 10-day high.

The price of Bitcoin rose sharply during the opening of the New York Stock Exchange (Wall Street), which changed the direction of the Bitcoin price, as the price of Bitcoin rose to as high as $4,600 that day.

The uptrend continued even after the market closed, with Bitcoin prices rising above $71,000 at the time of writing.

Renowned financial analyst Tedtalksmacro, speaking about recent market events, explained that spot Bitcoin ETFs in the US are starting to see net capital inflows again.

Over the past week, these ETFs have seen so-called “red flow days,” which are days when there is a net outflow of money. This is due to low investment demand. Combined with the large outflow of funds from the Grayscale Bitcoin Trust (GBTC), this is the highest record outflow ever.

According to Tedtalksmacro he said on the social media platform after facing capital exodus for 5 consecutive days last Monday. Net inflows amounted to more than $15.4 million.

Fidelity, a leading brokerage, reported that over $262 million worth of Bitcoin was traded.

“The demand is back again.”

source: Cointelegraph

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