The cryptocurrency market is experiencing an unexpected wave of interest from institutional investors, as reflected in record inflows into Bitcoin ETFs and other cryptocurrencies.
Analysis of Bitcoin ETF Inflows
On Friday, Bitcoin ETFs saw extraordinary net inflows of $1.029 billion, with BlackRock contributing $953 million of this amount. These significant sums were obtained outside of exchanges through BTC treasury purchases and OTC trades. Over the past three trading days, the total net inflow has surpassed $2.3 billion, indicating record figures in the market.
US Tariff News
Significant tariffs will be imposed on Mexico and the European Union starting August 1. This comes amid statements from the EU indicating a willingness to sacrifice, including shelving the digital tax. Trump's offer presents a choice: accept a 30% tariff or propose concessions to lower it. The EU's response remains unclear.
Trump's Political Response
Elon Musk has persistently criticized Trump regarding the Epstein case. In response to criticism, Trump released a statement on social media, emphasizing the achievements of his administration and denouncing false allegations. He stated that the opposition's attempts to undermine his accomplishments are misguided.
Institutional inflows into the cryptocurrency market continue to rise despite political uncertainty, highlighting the growing interest in digital assets and their potential for future growth.
