Bitcoin tops $72,000 as ETFs pull $155 million, extending two week inflow streak
Bitcoin traded near $72,500 as U.S. spot ETFs saw $155 million in net inflows, continuing a two-week streak despite fragile underlying demand signals.Summary
Bitcoin traded near $72,500 on Thursday, supported by persistent institutional demand for U.S. spot exchange-traded funds (ETFs), which pulled in another $155 million on Wednesday. This extends a two-week inflow streak totaling roughly $1.47 billion, marking a reversal after earlier withdrawals this year. Some market participants view this as evidence of Bitcoin's growing macro relevance as a geopolitical hedge, noting its 24/7 cross-border capability. However, on-chain analytics firm Glassnode warns that underlying demand remains fragile, citing a significant weakening in buy-side momentum and a drop in the share of profitable supply, suggesting potential distribution zones near the $70,000 cost basis of short-term holders.
(Source：CoinDesk)