U.Today – High-profile figures in the cryptocurrency industry underscore continued investor interest despite recent price fluctuations, Binance CEO Richard Teng said in a new post on X. As evidence of this continued interest, he pointed to significant inflows into US-listed Bitcoin ETFs.
Over the past six months, these ETFs have attracted over $14.7 billion in net inflows, highlighting strong investor confidence in BTC and digital assets in general.
Teng’s findings coincide with recent data from Bloomberg, which shows that investors have seen the recent price drop as a buying opportunity. Over the past two days, U.S. Bitcoin ETFs have seen a net inflow of $438 million.
This trend indicates a bullish sentiment among investors, who remain optimistic about the long-term outlook despite the market being shaken in the short term.
Bitcoin (BTC) Price Outlook
Since the beginning of June, the price of Bitcoin has fallen by about a quarter, mainly due to concerns about possible token sales by Mt. Gox creditors and sales by the German government.
However, Bitcoin managed to gain 3% since Tuesday to reach $57,600. Despite this rally, it remains well below its all-time high reached in March.
The steady inflows into ETFs and recent price recovery highlight that while prices and market caps fluctuate, the long-term outlook for BTC remains positive. Industry leaders, including Teng, advocate for maintaining focus and resilience in building the digital asset ecosystem, highlighting the principle of long-term fundamentals over short-term price movements.
This article was originally published on U.Today
