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#BTC falls below $60K - buy the dip or wait? #
Bitcoin ETF Investors Became a Lifeline: The Highest Entry of 2 Weeks was Observed!
Spot Bitcoin ETF investors made hefty purchases by taking advantage of the Bitcoin downturn.
Bitcoin ETF investors seized the opportunity of the sharp decline in the cryptocurrency market. Bitcoin fell below $54,000 in the early hours of Friday and then showed a slight sign of recovery.
US investors, noticing that Bitcoin experienced a historic drop following the Independence Day holiday on July 4th, made purchases according to ETF data. According to Farside Investors, Bitcoin ETFs recorded a net inflow of $143.1 million on Friday, the highest in the past two weeks.
Fidelity's Wise Origin Bitcoin Fund (FBTC) attracted a net new investment of $117.4 million, and other funds also showed positive inflows.
According to CoinGecko data, Bitcoin price plummeted on Wednesday from an average of $61,000 levels and dropped below $54,000, in line with Mt. Gox's repayment start, Germany's and the US's sales.