Bitcoin ETFs saw $300 million in daily net inflows, with no outflows recorded

US domestic Bitcoin ETFs recorded daily net inflows of $301 million on July 15. That extended its winning streak to seven consecutive days amid a broader market recovery.

None of the ETFs recorded outflows during the day.

Bitcoin ETFs have accumulated $16.11 billion in net inflows since January

According to data compiled by SoSoValue, BlackRock’s IBIT, the first Bitcoin ETF by net asset value, recorded the largest net inflows of the day with $117.25 million. IBIT was also the most traded Bitcoin ETF on Monday, with a volume of $1.24 billion. 21Shares’ Ark Invest and ARKB were close behind with a net inflow of $117.19 million.

Fidelity’s FBTC saw net inflows of $36.15 million on Monday, while Bitwise’s BITB saw inflows of $15.24 million. VanEck’s HODL, Invesco’s BTCO and Galaxy Digital and Franklin Templeton’s EZBC funds also posted net inflows. Meanwhile, Grayscale’s GBTC and other ETFs, such as Valkyrie’s BRRR, WisdomTree’s BTCW and Hashdex’s DEFI, saw no flows for the day.

A total of $2.26 billion was traded on Monday. Trading volume for these ETFs was lower than in March, when it topped $8 billion on some days. Meanwhile, these funds have collectively attracted $16.11 billion in net inflows since launching in January.

What’s Next for Bitcoin?

Earlier this month, the fall in the price of bitcoin was mainly due to fears of massive selling pressure from Mt. Gox and from the German government’s BTC sales.

But former US President and presumptive Republican nominee Donald Trump’s assassination attempt at a rally on Saturday appeared to spark a rally in the world’s biggest digital asset, and experts are bullish on the price’s trajectory of the asset in the future. Bitcoin rose more than 9% over the past week and was currently trading just below $64,000.

Veteran trader Peter Brandt discussed the outlook for bitcoin prices, suggesting a potential major rally. He referred to a pattern he calls “Hump->Slump->Bump->Dump->Pump” and noted that the July 5 double attempt was a bear trap, confirmed by the July 13 close. He sees an uptrend likely to continue, but cautioned that a close below $56,000 would negate that bullish view.

“Bitcoin $BTC Could Be Deploying Its Oft-Repeated Hump…Slump…Bump…Dump…Bomb Chart Construction. The July 5th Double Top Attempt Was A Trap By to bears, confirmed at the close of July 13. The most likely scenario now is that the bears are trapped. A close below $56,000 negates this interpretation.”

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