Bitcoin ETF Inflows Fuel $2.72B Surge as Altcoins Pull Back

Despite a recent dip in the Bitcoin market, bringing it down to levels around $120k, institutional investors are flocking to regulated Bitcoin products through spot ETFs, pulling in a significant $2.72 billion over the past week. This surge of investor interest is contrasting with a broader pullback in altcoins. 2023 has seen a surge in demand for Bitcoin as a safe-haven asset amid uncertainty surrounding the US government shutdown and anticipation of potential Fed rate cuts.