US Spot Bitcoin ETFs Pull In $1.7B Over Two Days as BTC Tops Holder Cost Basis

ETF flows are being read here as a demand signal rather than a price call, and the notable part is the pairing with the cost-basis threshold: a market where the average holder sits above water tends to change selling behavior, since the supply overhang from underwater positions eases. That combination, not either data point alone, is what gives the inflow figure weight. Whether the flows persist once the cost-basis move stops being fresh is the open question.