Bitcoin News Today: BlackRock IBIT Drives Five-Day BTC ETF Inflow Streak
In Bitcoin news today, US-listed spot Bitcoin ETFs recorded approximately $853.5M in net inflows across five consecutive trading sessions from Aug. 3 through Aug. 7, reversing the prior weekโs withdrawals, according to CoinGlass data. BlackRockโs IBIT accounted for an estimated $693M of that total, or roughly 81% of category-wide inflows.
Bitcoin remained below $65,000 during the five-day streak. ETF demand supported the $64,000 area, but had not produced a confirmed breakout until now. This Monday morning trading session begins with BTC USD trading +0.8% since yesterday, breaking through $65K to trade at $65,200.
Last weekโs ETF inflows for Bitcoin are a bullish sign for the market, and if this week continues in the same vein, it could provide the platform for a broader upside move across crypto through August.
Following the Coldcard wallet hack, $854.4 million flowed into U.S. spot Bitcoin ETFs last week.
The best week since APRIL!
Coincidence, or is the hack accelerating a shift from self-custody to ETFs? pic.twitter.com/aTPgHLlCZv
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