Yusuf Fakhro, partner at ARP Digital, noted that US spot Bitcoin ETFs saw inflows of over 14,000 Bitcoin in the five days ending August 7, marking the strongest inflow period since May. The third quarter has already recorded net inflows of approximately 11,000 Bitcoin, reversing the outflow of 110,000 Bitcoin in the latter half of the second quarter. Fakhro believes that institutional selling has turned into buying, and with spot trading volumes at a two-and-a-half-year low, perpetual contract trading volumes at a three-year low, and volatility near multi-year troughs, such strong demand occurring when market attention is low is often a sign of a lasting bottom forming.