Investors have directed $2.8 billion into Bitcoin exchange-traded funds over a six-day period. This streak of consecutive daily inflows follows a trend of sustained interest in these financial products, which are managed by firms including BlackRock, Fidelity, and Morgan Stanley.
Data from Farside Investors indicates that Monday alone saw inflows of nearly $1 billion. This represents the highest single-day volume since October 6, when the funds recorded over $1.2 billion in new capital. During that October period, Bitcoin reached a record price of $126,080.
Market fluctuations have impacted the asset's valuation, with the price recently standing at nearly $83,975 after peaking at $87,330 on Monday. Despite recent volatility, the average Bitcoin ETF holder is currently in profit, as the estimated cost basis for these funds rose above $81,722.
Analysts from CryptoQuant noted that Bitcoin has crossed its 365-day moving average, a technical indicator suggesting the end of a bear market. This renewed activity follows a period of market instability last year, during which over $19 billion in positions were liquidated.
