Bitcoin ETF Inflows Persist for Fourth Consecutive Day

On July 10, inflows into spot Bitcoin ETFs amounted to $147.4 million, marking a positive trend for the fourth consecutive day, according to SoSoValue.

During this period, investors poured $801.7 million into these instruments.

On July 10, the leaders in dynamics were:

• FBTC from Fidelity ($57.79 million);
• EZBC from Franklin Templeton ($31.66 million);
• IBIT from BlackRock ($22.24 million);
• BRRR from Valkyrie Digital Assets ($20.68 million).

Clients withdrew $8.15 million from GBTC by Grayscale.

Cumulative inflows since the approval of the products in January have reached $15.42 billion.

Investors continued to capitalize on the correction that arose amid coin sales by German authorities and the distribution of bitcoins among Mt.Gox clients.

Earlier, 10x Research suggested a potential drop in the first cryptocurrency’s rate to $50,000 due to a sharp change in sentiment.

Meanwhile, technical analyst Peter Brandt did not rule out a decline in digital gold prices to $44,000.

Standard Chartered maintained expectations of Bitcoin returning to its ATH in August and subsequently rising to $100,000 by the U.S. presidential elections in November.