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June 2, 2023

Bitcoin ETFs Keep Climbing as $105M Flows In Amid Price Plateau

Bitcoin may be trading sideways, but that hasn’t stopped the money from pouring in.

On June 3, Bitcoin spot ETFs posted another $105 million in net inflows—marking the 15th straight day of investor interest. Leading the charge was Fidelity’s FBTC, which raked in over $77 million, followed by Bitwise’s BITB with more than $14 million. Meanwhile, BlackRock’s much-hyped IBIT sat still—reporting zero flows in or out. Grayscale’s GBTC also remained flat.

The strong ETF interest came as Bitcoin briefly nudged past $70,000 before easing back to $69,000, where it’s been range-bound for much of the past two months. Still, that 2% daily gain turned heads—especially since Ethereum’s ether barely budged, holding just below $3,800.

The Bigger Picture: From Selling to Stacking

After topping out at $73,000 in March, Bitcoin entered a two-month cooldown. Analysts at Bitfinex say that phase could now be winding down.

One major driver of the correction

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