The US spot Bitcoin ETFs recorded a daily net inflow of $301 million on July 15th. This extended their winning streak to seven consecutive days amidst a broader market recovery.

None of the ETFs recorded outflows for the day.

Bitcoin ETFs Rake in $16.11B in Net Inflows Since Jan

According to the data compiled by SoSoValue, BlackRocks IBIT, the top spot Bitcoin ETF by net asset value, recorded the largest net inflows of the day at $117.25 million. IBIT was also the most actively traded Bitcoin ETF on Monday, with a volume of $1.24 billion. Ark Invest and 21Shares ARKB came in close behind with net inflows of $117.19 million.

Fidelitys FBTC experienced net inflows of $36.15 million on Monday, while Bitwises BITB saw $15.24 million in inflows. VanEcks HODL, Invesco and Galaxy Digitals BTCO, and Franklin Templetons EZBC funds also recorded net inflows. Meanwhile, Grayscales GBTC and other ETFs, such as Valkyries BRRR, WisdomTrees BTCW, and Hashdexs DEFI, registered no flows for the day.

A total of $2.26 billion was traded on Monday. The trading volume for these ETFs was less than in March when it exceeded $8 billion on some days. Meanwhile, these funds have collectively attracted $16.11 billion in net inflow since their January launch.

Whats Next For Bitcoin?

Earlier this month, bitcoins price decline was mainly due to fears of massive selling pressure from Mt. Gox and the German governments BTC sales.

But the assassination attempt on pro-crypto former US President and presumptive Republican candidate Donald Trump at Saturdays rally seemed to spark a recovery in the worlds largest digital asset, and experts are bullish on the assets price trajectory going forward. Bitcoin surged more than 9% over the past week and was currently trading slightly below $64,000.

Veteran trader Peter Brandt discussed bitcoins price outlook, suggesting a potential major rally. He referred to a pattern he terms Hump-Slump-Bump-Dump-Pump and highlighted that the July 5 double top attempt was a bear trap, confirmed by the July 13 close. He sees a likely continued upward trend but warned that a close below $56,000 would negate this bullish view.

Bitcoin $BTC could be unfolding its often-repeated HumpSlumpBumpDumpPump chart construction. Jul 5 attempt at the double top was a bear trap, confirmed by Jul 13 close. Most likely scenario now is that bears are trapped. Close below $56k negates this interpretation