Following a tranquil weekend, Bitcoin's price began to ascend at the start of the week, reaching an impressive high of $71,767 on Bitstamp. This notable surge coincided with substantial inflows into US-based spot Bitcoin Exchange-Traded Funds (ETFs), with a significant $500 million injected into these funds. Grayscale's GBTC also experienced positive flows, contributing to the remarkable streak of consecutive inflow days, which currently stands at 16 days.

This unbroken streak of positive inflows into the largest US spot BTC ETFs is a notable achievement, especially considering that the last outflow occurred nearly a month ago, on May 10. While occasional minor outflows have been observed from specific ETFs, such as the $100 million outflow from Ark Invest's ARKB on May 30, the overall trend remains decidedly positive. This prolonged period of consecutive inflow days matches the previous record set in February, demonstrating the growing confidence in Bitcoin investments.

Recent reports have highlighted the magnitude of these inflows, with June 4 witnessing the second-largest day of inflows, totaling $886.6 million, and yesterday's inflows reaching $488.1 million. This sustained interest in Bitcoin ETFs reflects the increasing appeal of cryptocurrency investments among institutional investors and fund managers.

The concurrent surge in Bitcoin's price and the unprecedented inflows into US-based spot Bitcoin ETFs signal a significant shift in market sentiment. As investors continue to inject substantial funds into these financial vehicles, Bitcoin's price is likely to remain buoyant, potentially leading to further growth and adoption in the cryptocurrency market.