American exchange-traded funds tracking Bitcoin attracted $730.9 million on Thursday – the largest daily amount since January, when inflows totaled $843.6 million. The recovery coincided with Bitcoin 's return above the $80,000 mark after a week of trading in the $76,000–$81,000 range. Data from SoSoValue shows that the peak in activity comes against a backdrop of growing investor interest in spot cryptocurrency ETFs, as reported by Cointelegraph. This marks the second strong inflow in two days: on Wednesday, the funds attracted $101.2 million, indicating a resumption of buying pressure following a period of relative stagnation.
The spot Bitcoin ETF market leader — BlackRock iShares Bitcoin Trust (IBIT) – attracted $454 million, or approximately 62% of the total volume. It was followed by ARK 21Shares Bitcoin ETF (ARKB) with $137.7 million and Fidelity Wise Origin Bitcoin Fund (FBTC) with $74.4 million. Notably, two funds recorded outflows: VanEck Bitcoin ETF (HODL) saw $19.6 million in outflows, while WisdomTree Bitcoin Fund (BTCW) lost $5.2 million. Analysts at CryptoQuant, reviewing the data in a report published by Cointelegraph, note that Bitcoin 's current rally is driven largely by traders closing short positions rather than fresh demand inflows. On August 21, Bitcoin holders realized a net profit of 23,000 BTC – the highest in a year, while total realized profit since August 19 amounted to approximately 110,000 BTC, indicating widespread profit-taking during the current rally.
Analysts identify the $83,000 level as a decisive threshold for confirming a new uptrend. According to CryptoQuant, the 365-day moving average sits at approximately $82,300, historically serving as the boundary between Bitcoin 's bull and bear markets. Bitcoin already reached $81,400 on August 28 before pulling back. A convincing close above $83,000 would confirm a new bull trend, while rejection at that level could lead to a pullback toward the 200-day moving average near $69,000.
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This material is prepared for informational purposes only and does not constitute financial advice or a recommendation.