Bitcoin started the week nursing a slump that stoked fears of outflows from dedicated US exchange-traded funds. Instead dip buyers poured in cash, a pattern that for some points to a less volatile token longer term.
A net $737.5 million was added to the 11 ETFs in the four days to Thursday, steadying Bitcoin near $58,000 after a drop to $53,602 on July 5 amid sales of seized tokens and fears of disposals by creditors of the failed Mt. Gox exchange.
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Sidhartha Shukla
https://www.bloomberg.com/news/articles/2024-07-13/bitcoin-etfs-herald-less-febrile-token-longer-term-traders-say
2024-07-13 07:00:00
