On July 8th, spot Bitcoin (CRYPTO:BTC) exchange-traded funds (ETFs) in the US saw net inflows of nearly $295 million, matching significant buying activity last seen in June when Bitcoin was above $70,000.

Despite the market declines, major funds have made a comeback, with BlackRock’s IBIT leading with $187.21 million and Fidelity’s FBTC with $61.54 million.

Other notable inflows included Grayscale’s GBTC at $25.07 million and Bitwise’s BITB at $11.05 million.

CoinShares data indicated that the recent dip in Bitcoin prices, caused by repayments linked to the defunct Mt. Gox exchange and the German government's BTC transfers, presented a buying opportunity for investors.

However, potential liquidity dumps from these sources still pose a concern, potentially causing Bitcoin prices to drop to around $47,000-$48,000.