U.S. spot Bitcoin ETFs recorded five consecutive sessions of net inflows last week, totaling $853.5 million, according to SoSoValue. Approximately $690 million went into BlackRock’s IBIT, representing about 80% of the weekly total, lifting cumulative net inflows since launch to $52.18 billion. Bitcoin traded at around $65,100 Monday morning, up 0.4% on the day. The cryptocurrency entered a death cross as its 50-day moving average fell below its 200-day, while CME FedWatch odds for a September rate hike dropped to 40% from 55% on Friday. Analysts remain cautious: the inflows are not enough to support a trend reversal, with the market likely to trade range-bound for two to three months.
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