U.S. Spot Bitcoin ETFs recorded five consecutive days of positive flows, attracting a total of $2.65 billion. BlackRock drove half of these flows, bringing cumulative assets to $55 billion despite the crypto winter. Bitcoin reached an eight-month high of $87,000, but remains under pressure from bond yields at 5.1% and a 64% probability of a Federal Reserve rate hike in October. The massive outflows over the past year were mainly driven by hedge funds and retail investors, while institutional resilience continues to support the market.
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