Bloomberg Analyst: Bitcoin ETFs Attract Another $500 Million in Single-Day Inflows, Up 12% Since Middle East Conflict

Odaily News: Eric Balchunas, Senior ETF Analyst at Bloomberg, posted on platform X, stating that Bitcoin ETFs have once again attracted $500 million in single-day inflows. Ten out of the eleven U.S. Bitcoin ETFs saw investor interest. Furthermore, since the escalation of the Middle East conflict, Bitcoin has risen approximately 12%, while gold has declined during the same period. This performance has sparked market discussions on their respective safe-haven attributes, as it is relatively uncommon for Bitcoin to strengthen while gold weakens. This has also prompted some investors to reconsider the roles of traditional "safe-haven assets" and "digital gold." Does this mean gold has failed to serve as a safe haven in the current environment, or conversely, does it indicate that Bitcoin is gradually assuming some of the functions of a safe-haven asset? However, long-term market views remain divided. Some analyses believe gold remains the primary safe-haven asset during traditional crises, while Bitcoin's market performance tends to be more volatile.