BIT says $6.7B in institutional funds entered crypto market over 30 days

Crypto options trading platform BIT, formerly Matrixport, said a total of $6.7 billion in institutional funds flowed into the crypto market over the past 30 days, based on combined figures for Strategy, Bitcoin ETFs and new stablecoin issuance. Compared with the $13 billion in net outflows recorded in June, the data points to a clear reversal toward net buying and capital inflows. BIT added that the improving inflow trend is helping support a recent recovery in market sentiment and downside price support, although the pace of inflows needs to accelerate further for Bitcoin to post a more substantial additional rally.