Two charts provided by Glassnode analytics team show that over the past week, inflows into the Canada-based Purpose Bitcoin exchange-traded fund have resumed after a large decline, which likely means that retail demand for BTC is on the rise again.
As the price of the flagship cryptocurrency plunged below the $40,000 level twice earlier this month – first thanks to Elon Musk and Tesla, then due to Chinese authorities – it also affected the $660 million Purpose Bitcoin ETF fund.
Thus, the digital gold has lost around 33 percent overall due to the aforementioned triggers.
