Spot Bitcoin ETFs have ended a six-day streak of outflows, recording $219 million in daily inflows as of Monday. Notably, Fidelity and BlackRock spearheaded this rebound, with Fidelity’s Wise Origin Bitcoin Fund (FBTC) attracting $65.56 million and BlackRock’s iShares Bitcoin Trust (IBIT) drawing in $63.38 million. The previous outflow streak began on August 15, culminating in significant losses, with $523.31 million exiting on August 19. The market correction followed Bitcoin reaching record highs of $124,128 on August 14, after which it experienced an 11% decline. According to James Butterfill from CoinShares, the recent outflows represented the largest losses for crypto funds since March, attributed to a polarized investor sentiment regarding U.S. monetary policy. However, a shift occurred following Federal Reserve Chair Jerome Powell's recent address, which was interpreted as dovish, resulting in a recovery in crypto sentiment and a surge in the Crypto Fear & Greed Index, reaching a Greed score of 60, indicating increased confidence among investors.

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