Bitcoin – How $1.18B in ETF inflows could push BTC’s price higher

Selling pressure from miners increased slightly as BTC hit a new ATH.

• U.S. spot BTC ETFs recorded the second-largest daily inflow of $1.2 billion on the 10th of July. Traders were betting for an extended BTC rally to $120K and $130K, but miners began offloading into the rally. 

Bitcoin [BTC] has hit a new all-time high (ATH) of $118k on the backdrop of strong ETF inflows and demand from treasury firms. 

On the 10th of July, U.S. spot ETFs attracted $1.18 billion in daily inflow, bringing monthly demand to $2.3 billion.

In fact, that was the second-largest daily inflow since the products debuted in January 2024.