Bitcoin exchange-traded funds (ETFs) listed in the United States showed a positive performance on Monday, recording net inflows of $28.7 million, following a record series of outflows that resulted in losses of $1.2 billion.
Bitcoin ETFs See $28.7 Million Inflows After $1.2 Billion Record Outflow Series
The reversal marks the first day of inflows for September, a month that many investors warned would be bearish for the leading cryptocurrency.
The outflows, which last began on August 27, had pushed net inflows since the beginning below the $17 billion level last seen in July.
Despite this, Bitcoin's price has fallen nearly 15% in the past two weeks and remains 25% below its all-time high of $73,300 from March.
Despite the recent pullback, some investors remain bullish. “Despite all the short-term noise and volatile price action, we remain structurally bullish,” QCP Capital traders wrote in a Telegram update.
Investors noted that Monday’s recovery from $52,500 was an encouraging sign, suggesting that some institutional investors may see it as a buying opportunity and add bullish bets for the December and March contracts.
Investors are awaiting key economic indicators such as the Consumer Price Index (CPI) and Producer Price Index (PPI), as well as the first presidential debate between Donald Trump and Kamala Harris.
However, Polymarket investors are skeptical that crypto will be a topic in the debate, giving it only an 11% chance of being mentioned by Harris and a 13% chance by Trump.
*This is not investment advice.
