BlackRock's IBIT Bitcoin ETF experienced inflows of $224.1 million on Monday, showcasing strong investor interest. Overall, U.S. Bitcoin spot ETFs recorded net inflows of $202.6 million.
The current Bitcoin price is approximately $62,900, remaining below a crucial support level.
Analysts hold mixed views on Bitcoin's ability to surge to $70,000 in the short term.
Recently, the Federal Reserve hinted at possible interest rate cuts in September.
The crypto market's overall sentiment is being cautiously optimistic.