Bitcoin ETFs Draw $2.8B in Eight-Day Streak as BTC Tests $80K
Bitcoin traded around $79,520 after briefly topping $80,475, helped by a strong U.S. spot Bitcoin ETF inflow streak that has pulled in $2.8 billion over eight sessions. BlackRock’s IBIT drove most of the demand, taking in $2.02 billion, while Grayscale’s GBTC continued to lose assets. Since launch, IBIT has gathered $63.1 billion in inflows versus $27.6 billion in GBTC outflows. Market observers said gold and Bitcoin funds have seen record combined demand, reflecting a “debasement trade.” Weekly trading volume topped $90 billion, with Bitcoin near $40 billion. Analysts cautioned that single-day ETF flows have limited predictive value, but sustained multi-day inflows signal stronger spot demand and improving confidence around the current price range. Recent inflows have slowed from earlier peaks, with resistance near $85,000 and support seen around $72,000.
