Spot Bitcoin ETFs traded in the United States recorded strong inflows last week. The funds saw a total of $763 million in net inflows, marking the first time this year that they posted positive flows for five consecutive trading days. As a result, spot Bitcoin ETFs closed their third straight week with net inflows, signaling that institutional investor interest remains strong.
On the Ethereum side, a notable development came from the Ethereum Foundation. The foundation sold 5,000 ETH to BitMine, the largest Ethereum treasury company led by Tom Lee, through an over the counter (OTC) transaction.
At the same time, there are signs that demand for Ethereum is strengthening again. Whales that previously sold near the top last week have started accumulating ETH again as the price moved back toward the $2,000 level. Several new investors, including an early Ethereum developer, have also continued making large ETH purchases.
In the stablecoin market, a significant shift has taken place. USDC has surpassed USDT in transaction volume, taking the top position and ending USDT’s roughly seven year dominance in market activity.
Bitcoin is trading at $73,063, while Ethereum is trading at $2,243.
The Crypto Fear and Greed Index stands at 39, indicating a fear level in the market.
