Bitcoin Edges Higher; U.S. CPI Awaited — Market Talk

Bitcoin edges higher in Asian trade. Prices barely moved despite the cryptocurrency having its best stretch since mid-April as around $850 million flowed into U.S. spot bitcoin ETFs over five consecutive sessions, suggesting investors are still largely positioned for a different outcome, says Wintermute trader Jasper De Maere. While the improvement in ETF flows is encouraging, Wintermute wants to see ETF activity remain strong through the end of summer before turning outright constructive. De Maere says the next catalysts will be U.S. inflation data this week, followed by the Jackson Hole symposium later in August and the U.S. Congress vote on the Clarity Act in September. Bitcoin is last 0.1% higher at $63,733.37. ([email protected])