Bitcoin ETFs See Over $1 Billion Inflows Amid Macroeconomic Shifts and Trade Deal Optimism

Key Points

1. U.S. spot Bitcoin ETFs saw net inflows exceeding $1 billion over July 2 and 3, rebounding from a brief outflow on July 1.

2. Fidelity’s FBTC led the inflows with $237.13 million, followed by BlackRock’s IBIT with $224.53 million, and contributions from ARK 21Shares’ ARKB and Bitwise’s BITB.

3. A new U.S.-Vietnam trade pact eased macroeconomic uncertainty, contributing to the positive market sentiment.

4. Political pressure on the Federal Reserve to adopt looser monetary policy weakened the U.S. dollar, further boosting Bitcoin ETF inflows.

5. Market analysts set ambitious Bitcoin price targets, ranging from $117,000 to $135,000 short-term, with some projecting $200,000 by year-end.