BlackRock's iShares Bitcoin Trust broke its streak of negative flows, taking in $15.8 million on Monday, ending a 13-day slump reminiscent of turbulent bitcoin market conditions.
Despite the recent inflow, the U.S.-based spot bitcoin ETFs have faced significant outflows, with the ten funds collectively losing $770 million since late August amidst market volatility.
The market's downturn was driven by uncertainty regarding global financial indicators, the U.S. presidential election, and interest rate decisions, which coincided with a preliminary 9% decline in bitcoin’s price.
As bitcoin’s price experienced fluctuations, it has now rebounded slightly to $60,000, recovering from steep declines in late August and into early September, marking a significant price recovery.
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