Balchunas assessed:
“Impressive they were able to make it to new high water mark so soon after the world was supposed to end. Byproduct of barely anyone leaving, left only a tiny hole to dig out of.”
After hitting its lowest year-to-date price of $74,441.20 on April 7, Bitcoin gradually recovered above $103,000 by May 8.
Notably, only eight out of 23 trading days since BTC started its upward trajectory registered outflows, totaling $1 billion.
The new all-time high in lifetime flows of spot Bitcoin ETFs amid an uncertain market reiterates the surging demand from institutional and traditional investors.
