Greed

Bitcoin

Billion

<ul>
 <li><strong>High trading volumes and Bitcoin’s price rebound show strong market resilience and ongoing investor confidence despite market fears.</strong></li>
 <li><strong>Major ETFs like BlackRock’s IBIT and Fidelity’s FBTC highlight increasing institutional interest, significantly impacting cryptocurrency market dynamics and stability.</strong></li>
</ul>
<p>On August 5, spot Bitcoin (BTC) exchange-traded funds (ETFs) in the US reached a significant milestone, surpassing $5 billion in daily trading volume for the first time since mid-April. The continuous strong inflows into Bitcoin ETFs and the cryptocurrency’s ability to hit new highs indicate a resilient market driven by institutional and investor interest, as reported in an earlier CNF <a href="https://www.crypto-news-flash.com/500000000-bitcoin-etf-investment-from-europes-4th-largest-hedge-fund-amidst-market-volatility/" rel="noopener noreferrer nofollow">update</a> today.</p>
<p>As we note the Bitcoin price rebounding 5% to $55,600 and ETFs hitting $5 billion in daily trading volume, marking a 4-month high, specific ETFs have led the charge. BlackRock’s iShares Bitcoin Trust (IBIT) <a href="https://www.crypto-news-flash.com/blackrock-bitcoin-etf-ibit-surges-20-with-19-5-billion-inflows/" rel="noopener noreferrer nofollow">dominated</a> with nearly $3 billion in trading volume and saw its assets under management rise by $172 million.</p>
<p>In addition, Fidelity’s Wise Origin Bitcoin Trust (FBTC) followed with over $858 million in trading volume. Grayscale’s Bitcoin Trust (GBTC) also saw substantial activity, with its volume exceeding $693 million despite an outflow of nearly $148 million.</p>
<h2 id="market-sentiment-and-volume-insights">Market Sentiment and Volume Insights</h2>
<p>Eric Balchunas, a senior ETF analyst at Bloomberg, commented on X that high trading volume on a down day can be a “pretty reliable measure of fear.” The Crypto Fear and Greed Index registered 26 out of 100 on August 5, indicating a fearful sentiment compared to 74 points from the previous week when Bitcoin approached $70,000.</p>
<p>Despite this, Balchunas noted that, “deep liquidity on bad days is also a good indicator,”</p>
<p>This statement emphasizes that such volume is <a href="https://www.crypto-news-flash.com/spot-bitcoin-etfs-trigger-record-inflow-investors-pour-millions-into-etfswap-etfs-worldcoin-wld-and-floki-floki/" rel="noopener noreferrer nofollow">favorable</a> for long-term market health. Subsequently, Coin Market Cap’s data today reveals that BTC’s price has surged by <span style="color: #008000;"><strong>7.69%</strong></span> over the past day to <strong>$55,192.68</strong>. See BTC price chart below.</p>
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<div class="cryptoboxes" id="mcw-19491" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-coin="bitcoin" data-symbol="BTC" data-currency="USD" data-rate="1.000268" data-type="chart" data-view="month" data-theme="light" data-smooth="true" data-areacolor="" data-bgcolor=""></div>
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Bitcoin Price Rebounds 5% to $55,600 as ETFs Hit $5 Billion Daily Trading Volume, Marking 4-Month High

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