Bitcoin Hits $65K as ETF Inflows Overpower Hacks and Delays

Bitcoin continues to show strong momentum this week. The leading cryptocurrency is trading above $65,170, marking a gain of nearly four percent over the past seven days. Traders seem unfazed by bad news that would normally drag the market down.

Two major hurdles hit the market recently. Hackers discovered a firmware vulnerability in popular Coldcard hardware wallets, leading to millions of dollars in stolen funds and shaking confidence in cold storage. At the same time, lawmakers pushed back the crypto market structure bill until September as Congress leaves for recess.

Despite these challenges, spot exchange traded funds are saving the day. Fresh cash injections into funds managed by BlackRock, Morgan Stanley, and Fidelity brought in over $763 million this week. Analysts point out that investors are moving away from compromised hardware and into regulated funds, keeping the price firmly on the rise.

Traders should keep an eye on upcoming ETF inflow numbers and wallet security updates. As long as big institutional money keeps flowing into these products, Bitcoin might continue to brush off broader market fears.