BTC price eyes rebound after huge inflows for Bitcoin spot ETFs
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Overall, the Bitcoin spot ETF market has a cumulative net inflow of $15.27 billion. The most bullish thing is that it has $50.79 billion in total net assets, as of July 9. Surprisingly, this equates to 4.45% of the total Bitcoin market capitalization as of now. This means that these ETFs have started to dominate the market since their approvals in January of this year.The rising inflows for Bitcoin spot ETFs have proven to be a good sign for the price of BTC.
As of writing time, BTC is trading at $58,445. Its price has increased 1.48% over the last day. While this is not a huge jump, it is still a good sign for the . This minor price jump is showing that Bitcoin is eyeing a price recovery after the recent crash in the broader crypto market.With over three years of immersive experience in the crypto industry, Mushumir is a seasoned crypto writer dedicated to unraveling the complexities of blockchain technology and decentralized finance.
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