U.S. Spot Bitcoin ETFs Smash Records with Sixth Week of Epic Inflows

BTC Dances Near $120K as ETFs Pull in Billions

Hold onto your hats, crypto fans! U.S. spot Bitcoin ETFs are on a wild ride, showing no signs of slowing down with a sixth straight week of massive inflows, while BTC flirts shamelessly with the $120,000 mark.

According to the latest data, these 12 spot Bitcoin ETFs have raked in a staggering $2.39 billion over the past week, pushing their six-week inflow streak to a mind-blowing $10.5 billion. Investors are throwing cash at these funds like it's going out of style!

Since they hit the scene, these products have gobbled up $54.75 billion in net inflows and now hold a jaw-dropping $152.4 billion worth of Bitcoin. That's a whopping 6.5% of the total Bitcoin market cap, folks!

Buckle up for the wild ride of the week from July 14-18. It kicked off with a bang on Monday, pulling in $297.4 million in net inflows, then surged to $403 million on Tuesday. Wednesday was a real rollercoaster, with $799.4 million pouring in, followed by $522.6 million on Thursday, and wrapping up with $363.45 million on Friday. Talk about a non-stop thrill ride!

BlackRock's IBIT was the star of the show, attracting a massive $2.57 billion. Not far behind, Grayscale's BTC and VanEck's HODL brought in $41.9 million and $31 million, respectively. It's like a race to see who can pull in the most cash!

Other funds, including Bitwise's BITB, Invesco's BTCO, Franklin Templeton's EZBC, and WidomTree's BTCW, added another $35 million to the party. But it wasn't all sunshine and rainbows, as Grayscale's GBTC, ARK 21Shares's ARKB, and Fidelity's FBTC saw a combined $290.8 million in outflows. It's a wild market out there!

Ethereum ETFs Join the Party with Record-Breaking Inflows

But wait, there's more! The nine-spot Ethereum funds are also making waves, pulling in a whopping $2.18 billion over the past week. That's a 140% jump from the previous week and their strongest inflow week since launch. These ETFs have now hit their 10th week of straight inflows, drawing in over $5 billion. The crypto party is in full swing!

Market commentator Nate Geraci couldn't contain his excitement, noting that spot BTC and ETH ETFs have now taken in nearly $25 billion this year. That's right, $25 billion! And almost all of it has been since April 2nd, what Geraci calls "Liberation Day." The crypto world is on fire!

While both Bitcoin and Ethereum ETFs have been attracting strong institutional investment in recent weeks, their performance over the past week has been a wild contrast.

Ethereum (ETH) skyrocketed 25% over the last 7 days, breaking above $3,800 for the first time since last December. Meanwhile, BTC's (BTC) price took a 2.2% hit during the same period, as traders started locking in gains around all-time highs. It's a rollercoaster out there!

Right now, many analysts are expecting Bitcoin to tread water as the market liquidity flows into altcoins, with Ethereum leading the charge. It's an alt season alert, folks!

Get ready for the altcoin explosion! ETH/BTC closed the week above the 50-week moving average, a move that has historically signaled the start of alt season. This bottoming pattern looks eerily similar to the 2017 explosion, and the RSI matches the 2019 bottom. Dare we call it? The altcoin party is about to get wild!