$BTC

ETF tsunami builds behind Bitcoin’s consolidation calm.

The price of Bitcoin is consolidating as exchange-traded fund (ETF) inflows show no sign of slowing down.

The top digital asset remains in a tight range, having formed a bullish pennant pattern, all while ETF inflows surged for the sixth consecutive week.

Bitcoin was trading at $118,200 on Saturday, July 19, a slight decrease from its all-time high of $123,000. It has jumped by over 58% from its lowest point this year.

SoSoValue data shows that all spot Bitcoin ETFs added over $2.3 billion in inflows this week, a slight decline from the $2.7 billion it added a week earlier.

IBIT ETF now holds over $86 billion in assets, making it the eighth-largest and most profitable BlackRock fund, thanks to its 0.25% expense ratio. Fidelity’s FBTC holds over $24 billion in net assets, while Grayscale’s GBTC has over $21 billion.

The surging inflows of Bitcoin ETFs are a sign of robust demand from Wall Street investors. According to BlackRock, these investors are buying BTC due to its long track record of beating traditional assets like stocks and bonds.

The company also pointed to the surging US public debt, geopolitical risks, and a hedge against inflation.

Bitcoin ETFs also added assets as the US Congress voted for the GENIUS Act, which Trump signed into law on Friday. This act introduced guardrails that all US stablecoins must adhere to, including regular audits and disclosures.

Further, the inflows jumped amid reports that Trump would consider allowing retirement funds to allocate cash into crypto. That will be a major thing as it will unlock over $9 trillion in assets to the crypto industry. #Write2Earn #CryptoMarket4T #BinanceHODLerC #BTC120kVs125kToday #AltcoinSeasonLoading $BTC