Bitcoin (BTC) Demand Revival: Crypto Daybook Americas

Bitcoin demonstrated a resurgence in demand, with the apparent demand metric indicating a net inflow of 5,252 BTC, equating to approximately $549 million, marking a three-month peak. This trend coincided with significant net inflows of $524 million into U.S.-listed Bitcoin spot ETFs, signaling a positive shift in market sentiment. Despite this, traders remain cautious in derivatives, with funding rates notably below the yearly average. The prolonged U.S. government shutdown continues to weigh on market sentiment, as many await further economic data which remains lacking. Coupled with ongoing volatility in traditional markets, especially in the gold and Treasury sectors, risk appetite appears subdued. Nevertheless, Bitcoin's price has seen an increase, and altcoins like Ethereum and Solana are also benefiting from the renewed interest. Overall, traders are advised to remain alert as institutional interest strengthens despite existing uncertainties.

Source 🔗