Bitcoin's Volatile Week: ETF Inflows and Mt. Gox Payout Looms July 23, 2024
The past 48 hours have been tumultuous for Bitcoin, marked by significant ETF inflows and looming concerns over the upcoming Mt. Gox payout. Here's a roundup of the key events and market movements that shaped the Bitcoin landscape.
Market Performance: Bitcoin experienced minor fluctuations, slipping by 0.08% on July 22 after a slight gain the previous day. It closed at $67,598, breaking a three-day winning streak. Despite this dip, Bitcoin remains above crucial support levels, indicating potential bullish momentum.
ETF Inflows: The Bitcoin spot ETF market continued its positive trend with net inflows extending to 12 consecutive sessions. Notably, BlackRock's Bitcoin ETF recorded its largest single-day inflow since mid-March, adding 7,759 BTC ($523 million) on July 22. Other major ETFs, including Fidelity and Invesco, also reported substantial inflows, contributing to the overall positive sentiment in the market.