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Bitcoin Demand Surges with 223 million USD ETF Inflows and 5% Price Rise

BTC surged from crucial support levels: Bitcoin’s price increased by over 5%, recovering from key support levels of 94,300 USD to 96,600 USD, reaching a near HIGH of 100,780 USD during mid-London trades.

Institutional interest drives BTC supply decline: The supply of Bitcoin on centralized exchanges fell by approximately 120,000 BTC over the last month, as institutional investors contributed about 80 billion USD monthly, boosting overall demand.

Spot Bitcoin ETFs report significant inflows: The U.S. Spot Bitcoin ETFs recorded 223 million USD in inflows, pushing total cumulative inflows to 34.58 billion USD. However, signs of bearish divergence indicate a potential price correction.

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