Bitcoin ETFs Snap Inflow Streak

Dow Jones08-11 23:32

11:32 ET--Bitcoin ETFs have posted five straight days of inflows, but that streak was snapped Monday with an outflow of $144.6 million reported, according to data from CoinGlass. Bitcoin ETFs have seen a streak of inflows since late July, with those inflows halting a streak of outflows that dated back to mid-June. The inflows did little to break bitcoin out of the range it's been stuck in, with trading staying tethered around $64,000. "Spot bitcoin ETFs recorded their strongest week since April, attracting $865.3 million across five consecutive positive sessions," says Bitfinex in a note. "Yet bitcoin gained just 2.08%, as substantial overhead supply continues to limit the price response." The firm adds that Wednesday's CPI report will influence how bitcoin moves going forward.

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