Bitcoin ETFs Record $28.7M Inflows Following Historic Losing Streak

U.S.-listed spot bitcoin ETFs experienced a notable shift, recording $28.7 million in net inflows on Monday, breaking a record streak of outflows totaling $1.2 billion. This marked the first day of positive inflows in September, a month historically viewed as bearish for bitcoin. The recent outflows had reduced the total net inflows since the ETFs’ inception to below $17 billion, a level last observed in July. Despite a 15% decline in bitcoin prices over the past two weeks, dropping 25% from the March peak of $73,300, some traders remain optimistic.

According to a Telegram broadcast by QCP Capital traders on Tuesday, “Despite the volatile market conditions, our long-term outlook remains bullish, and it appears the market is also seizing this downturn to initiate more long-term bullish positions.”

Traders highlighted a recent bounce from $52,500, suggesting it could be the market bottom, with institutions increasingly placing bullish bets for December and March. Bitcoin is currently trading above $56,500, after a slight drop from $57,000, as market participants await upcoming economic indicators and a political debate between Donald Trump and Kamala Harris.

In the digital asset sector, major AI tokens saw gains in early trading in Asia, with an increase of 10% in the CoinGecko category. Meanwhile, in the liquid staking space, Lido DAO’s token rose by 6.3%, and Rocket Pool’s token surged over 20%, following Binance Futures’ announcement of new leveraged perpetual contracts. However, data from DeFi Llama indicates that Rocket Pool’s total value locked remains just above $2.9 billion, showing no significant change despite the price action.

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