Open-Source AI Models Gain Ground as Enterprises Seek Lower-Cost Alternatives, Citi Says 
Super Micro Shares Slide After Taiwan Raids Over Alleged Nvidia AI Chip Smuggling Probe 
Anthropic Brings Claude AI Models to Microsoft Azure Foundry With NVIDIA Blackwell GPUs 
Lenovo Shares Slide as AI-Driven Memory Demand Signals Higher DRAM and NAND Prices 
Smartphones are helping filmmakers tell the stories the movie industry overlooks 
Microsoft Reportedly Plans New Job Cuts Across Sales, Consulting, and Xbox 
Bitcoin Tumbles Below $60,000 Amidst Persistent ETF Outflows 
Apple Eyes Chinese Memory Chips as AI Shortage Pressures iPhone Supply Chain 
Meta Stock Jumps as AI Cloud Expansion Challenges AWS, Microsoft, and Google 
Apple Expands iPhone Lineup, Boosts Foldable iPhone Production Plans Through 2027 
Switch Seeks $2 Billion Funding at Nearly $50 Billion Valuation Ahead of Potential IPO 
Bitcoin's price jumped over $67,000 after a $222 million ETF inflow, highlighting strong market momentum and investor enthusiasm.
ETF Inflows and Bitcoin's Price Surge
Recent data from Farside Investors indicates that the U.S. Spot Bitcoin ETFs have received a total inflow of $221.5 million. Many market analysts have also attributed the current surge in the BTC price to the significant inflow of the Spot Bitcoin ETF.
Recently, Bitcoin's price briefly crossed the $67,000 mark, showing that investors' attention has turned to the cryptocurrency. The price has continued to rise today.
The price of Bitcoin has grown by over 145% in the last 12 months, a clear indication of its increasing popularity. The approval of the U.S. Spot Bitcoin ETF has played a significant role in bolstering the industry's confidence in cryptocurrencies, a trend that has been particularly evident this year.
While the price of Bitcoin has been volatile recently, this has mostly been caused by the Bitcoin ETFs' cooling fund flow data. However, the large inflows in the investment instruments this week show that the situation has shifted.
As reported by Coingape, the investment instrument received a total inflow of $948.3 million this week, indicating the investors' strong belief in the cryptocurrency.
Eric Balchunas on Bitcoin ETF Resilience
Eric Balchunas, a senior ETF analyst at Bloomberg, emphasized the tenacity of Bitcoin ETFs while pointing out a significant inflow during the previous two weeks. The net value has returned to roughly "+$12.3 billion" since its introduction, according to Balchunas, who also noted that these inflows offset the negative flows encountered in April.
Additionally, the Bloomberg analyst also shared on X:
At the same time, the price of Bitcoin rose 1.35% to $66,977.71, and the number of trades dropped 15.50% to $25.81 billion. The cryptocurrency's price has reached a record high of $67,459.46 in the past 24 hours. As of this writing, it has gained about 146% year-over-year.
Photo: Microsoft Bing
