Bitcoin's price has bounced back, recovering from $59,000 to $62,000 levels. This upswing has led to increased inflows into spot Bitcoin ETFs, with a total of $31.01 million flowing in. This surge in investment also had a positive impact on other cryptocurrencies like Ethereum and Binance Coin.

When Bitcoin's price drops, investors often pull their funds out of ETFs, leading to outflows. However, when the price rises, investors tend to put their money back in, resulting in significant inflows. According to recent data, two ETFs experienced outflows, with Grayscale's Bitcoin ETF, GBTC, seeing the largest outflow of $30 million, followed by ArkInvest's Bitcoin ETF, ARKB, with an outflow of $6 million.

On the other hand, Fidelity's spot Bitcoin ETF, FBTC, saw the largest inflow of $49 million, followed by Bitwise's spot Bitcoin ETF, BITB, with an inflow of $15 million. VanEck's spot Bitcoin ETF, HODL, also experienced an inflow of $4 million, bringing its total net asset value to $518 million.

The overall cryptocurrency market has responded positively to Bitcoin's price recovery, with Ethereum's price rising to $3,376 and Binance Coin reaching $574. This upswing has brought some much-needed relief to the market, ending a seven-day outflow period in the spot Bitcoin ETF sector.

In conclusion, Bitcoin's price rebound has boosted investor confidence, leading to increased inflows into spot Bitcoin ETFs. As the cryptocurrency market continues to evolve, it's clear that Bitcoin remains a driving force behind market trends. With its price recovery, other cryptocurrencies have also seen a resurgence, signaling a potential turnaround in the market.