Investor enthusiasm for spot Bitcoin ETFs in the United States continues to grow. These exchange-traded funds have seen net inflows for 18 consecutive days, a record since their launch. This upward trend reflects growing optimism towards the queen of cryptos.
The craze for American Bitcoin ETFs does not weaken
American spot Bitcoin ETFs are on the rise. According to data from Farside Investors, they posted net inflows for 18 trading sessions in a row, unheard of. On June 6, these inflows reached $218 million in a single day, demonstrating growing investor interest.
BlackRock's IBIT is doing well with an impressive influx of $350 million on June 6. Its historic total net inflows now peak at $17.431 billion. Over the week, US spot Bitcoin ETFs totaled approximately $1.7 billion in net inflows.
This positive dynamic shows that more and more investors view these regulated ETFs as a safe and convenient way to gain exposure to Bitcoin. A change in perception is taking place in favor of the first crypto.
BTC price about to soar?
This craze for Bitcoin ETFs coincides with a revival in the price of BTC. For renowned analyst Captain Faibik, the key resistance level lies at $71,300. If it is crossed, it could trigger a significant rally, like the start of 2024.
Bitcoin is currently trading around $71,285, up 0.63% over 24 hours. Over one month, it gained more than 12% and posted weekly growth of around 5%. Open interest in Bitcoin futures also increased by 1.04% to 534.12K BTC ($38.17 billion).
All the lights seem green for the price of Bitcoin. The sustained demand for spot ETFs, crossing the resistance of $71,300 and the growing interest in futures are all bullish signals. The next objective according to Captain Faibik? 92,000 dollars, if the trend continues.
With a new record of 18 consecutive days of inflows, US spot Bitcoin ETFs demonstrate the growing optimism of investors. Buoyed by this momentum, the queen of cryptos seems ready to take flight again. A confirmed move above $71,300 would open the way to new highs.
Maximize your Tremplin.io experience with our 'Read to Earn' program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
Click here to join 'Read to Earn' and turn your passion for crypto into rewards!
