Bitcoin Holds as ETF Flows, On-Chain Data, and Regulatory Signals Align
Three independent data streams converged this week to paint the most constructive picture for Bitcoin in months, and none of them is a price chart. Spot BTC ETFs logged back-to-back net inflows of 3,330 BTC and 2,680 BTC on August 3 and 4, the network hash rate set a structural all-time high at approximately 953.8 exahashes per second, and the SEC/CFTC joint token taxonomy confirmed Bitcoin and Ethereum as digital commodities, removing a decade-long legal uncertainty that had constrained institutional product development.
Key Takeaways U.S. spot Bitcoin ETFs netted 6,010 BTC in two days (August 3-4), snapping a multi-week outflow streak; IBIT now holds $46.18B in AUM. Bitcoin's hash rate reac…
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