The world’s largest asset manager, BlackRock’s iShares Bitcoin Trust (IBIT) remains popular among investors, with $107 million invested on July 18. This is the ninth day of consecutive inflows, and the total has reached millions since July 8.
As per the co-founder of the crypto data platform Apollo, Thomas Fahrer, seven of these nine days witnessed inflows of more than $100 million, which is quite a feat in the ETF space.
While the financial performance of Bitcoin remains robust, the market sentiment is gradually declining. Santiment data reveals that there is a drop in the number of positive comments about Bitcoin on social media as traders open short positions.
Santiment tracks social sentiment on Reddit, X, 4chan and BitcoinTalk, and reveals that positive Bitcoin comments are now at a third of the volume seen four months ago. However, the term ‘buy the dip’ was most active at the beginning of the month when Bitcoin dropped to a near five-month low of $53,600 on July 5.
However, the Crypto Fear and Greed Index shows that the market sentiment is still at “Greed” with a score of 60 out of 100. This is quite a recovery from the ‘Extreme Fear’ level recorded on July 12, which had a rating of 25 out of 100, the lowest since January 2023.
Thomas Fahrer from Apollo noted that seven out of nine days saw inflows surpassing $100 million, a remarkable achievement in the ETF space. This consistent investment highlights IBIT’s strong appeal among investors.
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