Bitcoin ETFs see seventh straight day of inflows as price holds near $80,000

Bitcoin ETFs extend inflow streak to seven days

Spot bitcoin exchange-traded funds (ETFs) attracted $337.56 million in new investments on August 24. This marks the seventh consecutive day of inflows, supporting a bitcoin price rally that began with a short squeeze.

Bitcoin, the largest cryptocurrency by market value, has been trading near $80,000, holding above $79,000 for most of the day. The price remains roughly flat over the past 24 hours.

Key figures from the latest market activity

• Spot bitcoin ETFs saw $337.56 million in inflows on August 24.
• Bitcoin price hovered near $79,400, down slightly from overnight highs above $80,000.
• Stablecoins USDC and USDT grew by a combined $4 billion in the past week, boosting market liquidity.
• U.S. Treasury yields fell on August 25, potentially supporting risk assets like bitcoin.

Crypto stocks and stablecoins rise alongside bitcoin

Crypto-related stocks performed well as bitcoin held steady. Gemini, a crypto platform founded by Cameron and Tyler Winklevoss, surged 10% after announcing a partnership with Apex Fintech Solutions to expand its regulated crypto prediction markets.

Other crypto stocks also gained: Galaxy Digital and Robinhood rose about 7%, while Coinbase and Bullish climbed roughly 5%. Bitcoin mining stocks also posted meaningful gains.

Stablecoins, which are cryptocurrencies pegged to traditional assets like the U.S. dollar, saw increased inflows. Tether’s USDT supply grew by $2.2 billion over the past week, while Circle’s USDC added $1.8 billion. Ripple’s RLUSD grew by $300 million. Stablecoins provide liquidity for trading digital assets without relying on traditional banking systems.

U.S. Treasury yields decline, supporting risk markets

U.S. Treasury yields fell on August 25, which may have helped boost risk assets like bitcoin. The 30-year Treasury yield dropped 5.3 basis points to 5.178%, while the 10-year yield fell 5.9 basis points to 4.645%. The 2-year yield, closely tied to Federal Reserve policy, declined 3.4 basis points to 4.202%.

The Nasdaq stock index rose 0.6%, led by AI-related companies like Nvidia, Micron, and AMD. Bitcoin, which had retreated nearly 3% from its overnight highs above $80,000, recovered slightly to trade around $79,400.

What is confirmed

• Spot bitcoin ETFs recorded $337.56 million in inflows on August 24, extending a seven-day streak.
• Bitcoin traded near $79,400, remaining roughly flat over the past 24 hours.
• Stablecoins USDC and USDT grew by a combined $4 billion in the past week.
• U.S. Treasury yields declined on August 25, with the 10-year yield falling to 4.645%.
• Crypto stocks, including Gemini, Galaxy Digital, and Coinbase, posted gains.

What remains uncertain

• The exact cause of the recent bitcoin rally is not fully confirmed, though it began with a short squeeze.
• How long the streak of ETF inflows will continue is unclear.
• The long-term impact of declining Treasury yields on bitcoin and crypto markets is not yet known.

Why this matters for crypto markets

The sustained inflows into bitcoin ETFs suggest growing investor interest in cryptocurrency as a mainstream asset. Stablecoin growth indicates increased liquidity, making it easier for traders to move funds in and out of digital assets. The decline in U.S. Treasury yields may also make riskier assets like bitcoin more attractive to investors.

Sources

• CoinDesk