Bitcoin ETFs Post 5-Week Buying Streak as Hedges Unwind, Institutional Appetite Returns

In brief

• U.S. spot Bitcoin ETF inflows totaling $3.8 billion pushed total net assets to a record $108.76 billion.
• The 25-delta skew is compressing to near-zero as traders unwind downside protection built up during the bear phase.
• Bitcoin’s upside is capped at $85,200, which is the next key…