Bitcoin (BTC) price tumbles below $80,000 on Monday amid improved odds of a rate hike with the robust US employment data. Institutional demand holds firm with crypto-focused Exchange Traded Funds (ETFs) recording nearly $1.25 billion in inflows last week. Jupiter (JUP) and Zcash (ZEC) extend gains over the last 24 hours, leading the broader crypto market rally.
Crypto ETFs record third consecutive week of over $1 billion in inflows
CoinGlass data shows that Bitcoin and Ethereum (ETH) ETFs recorded $986 million and $218 million in inflows last week, while the rest of the altcoin funds saw positive inflows, except for Dogecoin (DOGE), which saw $343,580 in outflows. Last week’s total inflows stood at $1.24 billion, recording the third consecutive weekly inflow of over $1 billion, indicating firm demand among large institutional investors.
Crypto net ETFs flow. Source: SoSoValue
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