US spot Bitcoin exchange-traded funds have maintained a net inflow streak for nine consecutive trading days. On Tuesday, these funds attracted $66.2 million, pushing the total net inflows during this period to approximately $3.1 billion. According to SoSoValue data, the year-to-date net inflows for Bitcoin ETFs have reached about $1 billion.
In contrast, other cryptocurrency funds experienced a reversal in momentum. Spot Ether ETFs recorded net outflows of roughly $3 million on Tuesday, ending a seven-day period of inflows. During that previous streak, these funds had attracted over $851 million, bringing their cumulative net inflows to approximately $14 billion.
Zcash funds also saw a decline earlier in the week, reporting $8 million in net outflows on Monday and ending a six-day inflow streak. At the time of the report, Bitcoin was trading at approximately $83,567, marking a 0.4% decrease over 24 hours. The Crypto Fear and Greed Index dropped from 73 to 71, though it remains in the Greed zone.
Market analysts suggest that rising crude oil prices are impacting non-yielding assets, contributing to the pause in Bitcoin's recent rally. Kyle Rodda, a senior financial market analyst at Capital.com, noted that Bitcoin may face challenges in regaining upward momentum as long as energy-price risks persist, despite a technical outlook that remains constructive.
