Bitcoin ETF News: BTC USD Weekly Surge Comes as ETF Flows Reverse
Bitcoin price action has gone completely vertical this week. Bitcoin is trading around $77,700, up 8.3% over the past 24 hours and 23.8% over seven days, as its ETF news turns bullish. It has also pushed its market cap above $1.55 trillion.
The move comes after BTC broke through $75,000 during Friday’s Asian session. It later pushed toward $78,000 as buyers continued to chase the breakout.
This is no longer the same Bitcoin market that was struggling around $64,000 earlier this month. Momentum has flipped quickly, and the latest ETF data gives bulls and the news another reason to stay interested.
Bitcoin ETF Flows Flip Back Positive Despite Bearish News Earlier
The 12 US spot Bitcoin ETFs recorded $600 million in net inflows on August 20. That was a bigger inflow than the previous sessions, extending the recent run of positive flows.
The August 20 figure followed inflows of $297.5 million on August 17, $186.4 million on August 18, and $517 million on August 19. That puts the three-day inflow total through August 19 at more than a billion.
