Bitcoin ETFs extend six-day inflow streak with nearly $3 billion

Bitcoin ETFs extended a six-day buying streak with more than $2.8 billion in new investment since September 17. Farside Investors provided the data. BlackRock, Fidelity, and Morgan Stanley manage some of the funds. Investors bought nearly $1 billion in shares on Monday. That was the largest daily inflow since October 6. The funds received more than $1.2 billion on October 6. Bitcoin reached a record price of $126,080 that day. Bitcoin recently traded near $83,975 on Friday. Bitcoin reached $87,330 on Monday. Bitcoin's price rose nearly 4% over the past seven days. Bloomberg ETF analyst James Seyffart said the average ETF buyer is now in profit. The U.S. Department of the Treasury said in August that it would at least double its liquidity-support buyback operations. Bitcoin's price rallied after the move pushed 30-year Treasury yields lower and weakened the dollar. U.S. Treasury yields have since risen again. Bitcoin continued rising last week after lawmakers blocked the Clarity Act. The Federal Reserve also raised interest rates. Some analysts said Bitcoin is in a bull run. CryptoQuant said Bitcoin crossed above its 365-day moving average. CryptoQuant described that level as a signal that Bitcoin had finished its bear market. Bitcoin reached $126,080 in October of last year. Bitcoin later fell after a crypto liquidation event closed more than $19 billion in bets. Investors have renewed interest in the debasement trade, which involves buying assets as a hedge against a weakening currency. Bitcoin benefited as the dollar weakened.