ETF inflows, low selling pressure

ETF inflows, low selling pressure

Although the spot market had shown slight demand contraction recently, a renewed institutional appetite boosted BTC further.

On the 10th of July, ETFs saw $1.18 billion in daily inflows, the second largest since their debut. 

Paired together, the lift-off from the short squeeze and additional fuel from ETFs extend the upswing to $118K. 

CryptoQuant also highlighted another catalyst for the bull run – A muted sell pressure in the spot markets. 

Unlike the Q2 bounce from $75K to $100K, which attracted increased selling pressure, this mid-week rally didn’t see any notable spike from sellers.