The Bitcoin Price Soars 12% In The Last Week!

The bulls still control the market amid buoyant sentiment. Part of the tailwinds stem from positive news on Bitcoin spot ETFs (exchange-traded funds) with ETF Bitcoin balances hitting a new all-time high of more than 900,636 BTC.

JUST IN: 🇺🇸 US spot #Bitcoin ETF balances have hit a new all-time high of more than 900,636 BTC🚀 pic.twitter.com/IeTRuMXrub

— Bitcoin Magazine (@BitcoinMagazine) July 18, 2024

Elsewhere, reports indicate that Bitcoin Depot, the largest BTC ATM operator, plans to adopt a Bitcoin treasury. This could bode well for the pioneer cryptocurrency, considering it makes around $700 million annually.

JUST IN: The largest #Bitcoin ATM operator, Bitcoin Depot, will adopt a $BTC treasury

They make $700,000,000 annually 👀 pic.twitter.com/4L3XE5TPWE

— Bitcoin Magazine (@BitcoinMagazine) July 18, 2024

The big news, however, is that the IBIT ETF issuer, BlackRock, bought more than $1 billion in Bitcoin in July. On July 18 alone, investors bought more than $107 million, marking the ninth straight day of inflows.

JUST IN: Blackrock has purchased over $1B worth of #Bitcoin this month – Including $107M Today.

That's 18,600 #Bitcoin

This is a total acceleration of inflows 🚀 pic.twitter.com/nPptlIyEvX

— Thomas | heyapollo.com (@thomas_fahrer) July 18, 2024

Pointing to growing interest, the data is unsurprising given elevated greed levels in the market, which could play well in driving the Bitcoin price further north.

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