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Bitcoin ETFs record weekly inflows of USD 2.75 billion while BTC price stands above USD 108,000🔸💥💥
U.S.-based spot Bitcoin ETFs recorded a consecutive week of daily inflows for the first time in four weeks.
U.S. spot Bitcoin exchange-traded funds (ETFs) have recorded a total of 2.75 billion dollars in inflows this week, in which Bitcoin has surpassed its all-time high of January of 109,000 dollars.
The 2.75 billion dollars in inflows are approximately 4.5 times higher than the 608 million dollars from the previous week, according to Farside data.
BlackRock's Bitcoin ETF continues its inflow streak.
On May 23, the last trading day of the week, Bitcoin ETFs BTC 95,786 € recorded inflows worth 211.7 million dollars. However, BlackRock's IBIT was the only fund that recorded gains on the day, adding 430.8 million dollars and extending its inflow streak to eight consecutive days.
Grayscale's GBTC led the outflows with 89.2 million dollars, followed by ARKB from ARK 21Shares with 73.9 million.
Just two days earlier, on May 21, Bitcoin ETFs recorded inflows of 607.1 million dollars, the same day that Bitcoin surpassed its all-time high of 109,000 dollars. The next day, Bitcoin recorded a new all-time high of 111,970 dollars.
At the time of publication, Bitcoin is trading at 108,141 dollars, according to CoinMarketCap data.
The slight drop in Bitcoin's price in the last 24 hours occurred alongside a decrease in cryptocurrency market sentiment, according to the Crypto Fear & Greed Index.
The Index, which measures the general sentiment of the crypto market, offers a "Greed" score of 66, 12 points lower than its "Extreme Score" of 78 from the previous day.