Bitcoin spot ETFs recorded their largest inflows in more than two weeks on Thursday, totaling $192.5 million. This comes after Bitcoin dipped below $50,000 earlier this week amid a global market sell-off.

NEW: 🇺🇸 #Bitcoin ETFs saw $192 million inflows, the most in more than two weeks.

The tide is turning 🚀 photo.twitter.com/y7Ra6NK4jA

— Bitcoin Magazine (@BitcoinMagazine) August 9, 2024

The inflows helped push Bitcoin back above $60,000 on Friday, marking a swift turnaround after Bitcoin fell nearly 20% to its lowest level since February.

The BlackRock iShares Bitcoin Trust (IBIT) led the rebound, with inflows of $157.6 million on Thursday. The WisdomTree Bitcoin Trust (BTCW) also had an excellent day, attracting over $118.5 million in fresh capital – its largest daily gain since its launch.

BTCW has generally lagged behind rivals, struggling to break the $11 million mark in daily inflows since its launch in January. The previous record was $10.5 million. But Thursday’s surge made it the best performer.

The influx shows a renewed appetite for Bitcoin exposure after a sell-off earlier in the week that also hit exchanges like the Nasdaq. Friday’s disappointing US jobs report triggered recession fears.

The rebound in prices and inflows suggests that the Bitcoin sell-off may have been a temporary blip rather than the start of a new bearish trend. The recovery to $60,000 has bulls eyeing a retest of all-time highs above $73,000 in 2024.