BTC has surpassed 63.000, marking an important milestone in recent price rallies. This incredible rise is due to the increased impact that Bitcoin ETFs have on the market.
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The Impact of Bitcoin ETF inflows on BTC Price Increase
US Bitcoin ETF Performance
US Bitcoin ETFs’ performance has been impressive. As of July 15, there was a net daily inflow of 183.8 million dollars. The total is an astounding $15.99 billion.
Net assets total $54.82 billion. This is equal to 4.52% market value.
BTC’s confidence is also skyrocketing as we enter our seventh consecutive day with positive flows.
Hong Kong Bitcoin ETF Growth
Hong Kong’s Bitcoin ETF has grown rapidly in recent months. The second highest inflow of BTC in history was recorded on July 15th, with 612.24 BTC.
Hong Kong ETFs have 4940 BTC currently, with a daily volume of approximately 23 million dollars.
Top ETF issuers
ChinaAMC, Harvest Global and OSL are two of the leading ETFs in China. The combined strength of their two companies is 2849 BTC. This represents 58% share in the market.
ChinaAMC Bitcoin ETF is the leader of the Bitcoin market, with 2100 BTC managed by it.
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Global Bitcoin ETF Market Trends
Both the US and Hong Kong markets are showing stellar performance. BTC’s value is being impacted by this recent trend.
The demand for cryptocurrency is also increasing as institutional investors increase their investments.
BTC Price: What’s driving it up?
Bitcoin ETFs inflows have been a major driver of price increases, but it is worth noting that other factors also play a role.
- Crypto adoption by institutions is increasing
- Increased retail interest
- Market sentiment is positive
- There are global economic uncertainties
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BTC rising above $63.000 can be considered a success. proof Bitcoin ETF has a growing influence on the cryptocurrency markets.
ETFs are expected to continue rising in value as global markets and ETF inflows increase. How long is this trend likely to last? The market alone will be able to tell.
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Source: watcher.guru