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US spot exchanges extended a nine-day winning streak for Bitcoin as several tailwinds continued to fuel renewed investor interest in the asset.
The total daily net income from July 5 to July 17, which excludes the weekend, is about $1.97 billion, data from Soso Value shows.
Between May 13 and June 7, 11 funds saw consistent inflows for 19 consecutive days, the longest stretch in a month.
Analysts say the influx of Bitcoin ETFs into the U.S. spot, a post-halving supply shortage and the launch of an Ethereum spot ETF next week could boost demand.
Declining rates from the US Federal Reserve and the political landscape in Washington, D.C. could help push the asset to $100,000 by the end of the year, Decrypt previously reported.
The world's largest crypto by market capitalization reversed significant losses at the beginning of the month.
On July 3, the property slipped below $62,000, dropping 14% in value to $53,550 by July 5.
The assassination attempt on former President Donald Trump on Saturday sent Bitcoin prices soaring during weekend trading, pushing them above a two-week high of $62,450 at the time.
Interest flooded into US ETFs, which recorded the largest inflow on Tuesday – 422.6 million dollars – $488.2 million as of June 5.
Trump's vocal support has had a “significant impact” on Bitcoin and Ethereum prices, Pedro Lapenta, head of research at Hashdex, told Decrypt.
“There is a strong ‘Trump Effect' on crypto prices,” LaPenta said, pointing to a possible win for the former president's White House, which bodes well for more favorable industry regulation.
“The election of JD Vance, a well-known bitcoin owner and cryptocurrency fan, as his vice president will further strengthen Trump's pro-crypto stance.”
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