Bitcoin ETFs See Consecutive Days of Inflows — Market Talk

Bitcoin ETFs have posted net inflows for two straight days, according to data from CoinGlass. On Wednesday, a net inflow of $107.7 million was recorded, with $181.1 million the day before. It's an encouraging sign for bitcoin prices, but more is needed to fundamentally support a move higher, says Naeem Aslam of Zaye Capital Markets in a note. "Bitcoin still needs sustained spot demand and stronger institutional inflows to convert the breakout into a durable upward trend rather than a short-lived positioning move," says Aslam. He also notes that efforts to move the CLARITY Act through Congress are heating up, with success potentially reflected in the movement of bitcoin and other major cryptocurrencies. ([email protected])