Bitcoin ETFs Snap Six-Day Negative Streak as Dip Buyers Return

Core Insights - U.S. spot Bitcoin exchange-traded funds (ETFs) experienced nearly $240 million in net inflows on Thursday, marking a recovery after a significant outflow period where over $2 billion was withdrawn [1][2] - The inflows were primarily driven by BlackRock's IBIT, Fidelity's FBTC, and Ark 21Shares' ARKB, indicating a potential shift in investor sentiment [1] - Ethereum ETFs also saw a similar recovery with $12.5 million in net inflows on Thursday, following a week of outflows [3] Group 1: Market Performance - The previous week was marked by substantial outflows, starting with a single-day loss of $470.7 million, followed by cumulative outflows reaching $566.4 million on Tuesday [2] - Bitcoin is currently trading around $100,257, down 20% from its peak of $126,000 last month, reflecting a 2.8% decline in the past 24 hours [5] - The recent inflows suggest renewed institutional interest in Bitcoin, despite the current price drop [5] Group 2: Investor Sentiment - Analysts suggest that the recent selling pressure is likely to diminish, making Bitcoin a more attractive buying opportunity as sellers exit the market [6] - There is a prevailing expectation that the bull market for Bitcoin has not concluded, with buyers looking to capitalize on potential price increases [6] - The accumulation of Bitcoin by long-term holders and whale wallets indicates a strengthening of market sentiment [4]