The net inflow of the US spot Bitcoin ETF has exceeded 1 billion US dollars in the past three days
According to tracking data from Farside Investors and Coinglass, on Tuesday, the net inflow of 11 US spot Bitcoin funds totaled $422.5 million, marking the highest single-day net inflow since June 5th and continuing a seven-day upward trend. In just the past three days, these funds have attracted over $1 billion in total. The data shows that since hitting a low near $53,500 on July 5th, BTC has soared by 23% to $65,800.
In addition to ETF fund inflows, the price rebound may also be related to reduced selling pressure in Saxony state of Germany; increased likelihood of Donald Trump - a Republican candidate who supports cryptocurrency - winning the U.S presidential election on November 4th; and Trump's decision to appoint BTC holder James David Vance - a Republican senator from Ohio - as Vice President.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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