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Spot Bitcoin ETF Inflows Down 73% in Seven Days: Details
Bitcoin spot ETF inflows have taken a drastic turn over the past week, with a staggering 73% decline in just seven days. According to recent data, this significant drop has raised concerns among investors about the cryptocurrency’s future prospects.
The news comes amid a tumultuous period for Bitcoin (BTC), which is down by 1.27% in the last 24 hours and currently trading at $82,047. The price drop has led to a drastic shift in investor sentiment, causing many to reevaluate their positions in the market.
Despite this recent downturn, institutional investors have remained bullish on Bitcoin’s long-term potential. Just yesterday, Strategy announced massive acquisitions that further solidified its commitment to the asset. This renewed interest could potentially boost inflows in the near future.
It is essential to note that Fidelity Investments led the way with a record $127.3 million investment during the initial surge. Their continued support has been instrumental in driving growth within the sector.
In light of these developments, it is too early to predict if this downward trend will continue or reverse course. However, one thing is clear: the institutional adoption and ongoing interest in Bitcoin suggest that the spot ETF inflows may yet recover in the coming days.
Source: https://u.today/spot-bitcoin-etf-inflows-down-73-in-seven-days-details
