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**2 Strong Indicators US Investors Are Flocking Back to Bitcoin**
Following a tumultuous period in the cryptocurrency market, it appears that United States-based investors are once again turning their attention back to bitcoin. This shift is evident through two key metrics: inflows into exchange-traded funds (ETFs) and changes in the Coinbase Premium Index.
**Bitcoin ETFs See Largest Daily Inflows Since November**
In recent weeks, US investors have been withdrawing large sums of money from Bitcoin ETFs. The trend reversed on January 3rd, with a massive influx of capital back into these funds. According to FarSide data, this marked the best day in terms of net inflows since November 21st. Notably, BlackRock’s IBIT and Fidelity’s FBTC were among the top performers, with net inflows totaling $253.1 million and $357 million respectively. Ark Invest’s ARKB also saw significant growth, attracting a substantial $222.6 million.
This sudden shift in investor sentiment is a stark contrast to the previous period of outflows. It appears that US investors are once again embracing bitcoin as an attractive investment opportunity.
**Coinbase Premium Index Reverts Back to Neutral Territory**
Another key indicator that suggests a resurgence in US interest in Bitcoin is the Coinbase Premium Index. This metric measures the difference between the price of Bitcoin on Coinbase and Binance, with a positive number indicating buying pressure and vice versa. The index recently plummeted to its yearly low, only to quickly recover to neutral territory.
This rapid reversal in sentiment can be seen as evidence that US investors are now accumulating bitcoin at an increased rate. Such a drastic shift in the Coinbase Premium Index supports the notion that investor confidence has been restored.
**Conclusions**
In light of these findings, it appears that US investors are once again turning their attention back to bitcoin. The significant inflows into ETFs and the sudden change in sentiment as measured by the Coinbase Premium Index suggest that risk tolerance is increasing among local investors.
While past market trends do not guarantee future performance, these indicators suggest a renewed interest in the largest cryptocurrency by market capitalization.
Source: cryptopotato.com
