Solid inflows into spot Bitcoin ETFs reflect investors' bullish sentiment, and this could push SOL, ICP, GRT and BONK.
Bitcoin (BTC) has been gradually inching higher toward the $70,000 mark, indicating that the sentiment remains positive. United States-based spot Bitcoin exchange-traded funds witnessed inflows of $383 million on July 19, per Farside Investors data. That pushed the cumulative net inflows into the ETFs to more than $17 billion since their launch.
As Bitcoin’s price maintains above $65,000, Bitcoin whales seem to have reduced their selling. CryptoQuant head of research Julio Moreno said in a post on X that selling by large Bitcoin investors has exhausted and “valuation metrics suggest positive momentum.”
Bitcoin’s strength has resulted in a recovery in several altcoins. The cryptocurrency markets may receive a further boost from the launch of Ethereum ETFs, which are expected to start trading on July 23.
