Bitcoin ETFs See $854 Million Inflows, ETH ETFs $244 Million

Spot Bitcoin ETFs attracted approximately 854 million dollars last week, marking their strongest performance since spring and ending an eight-week outflow streak. Ethereum ETFs recorded net inflows of 244 million dollars during the same period. Adjusted for market cap, this equates to about 1.25 billion dollars in Bitcoin inflows. The macroeconomic landscape showed positive earnings, but the July jobs report revealed a loss of 23,000 jobs, contrary to expectations of 80,000 gains, marking the first decline in months, despite a drop in unemployment to 4.1%. This scenario shifted the odds for a September rate hike from 67% to 42%. Bitcoin ETFs saw 102 million dollars in net inflows on Friday and 865 million dollars for the week, while ETH ETFs recorded 49.6 million dollars on Friday and 244 million dollars for the week. Although Bitcoin and Ethereum prices rose only 2%, the return of inflows is a crucial step towards reversing the bear market.

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