On Monday, daily net inflows into the U.S. spot bitcoin ETF were $61.98 million, while total daily volume was $779.87 million, the lowest since February 6 and the third lowest overall daily volume. SOFA.org director Augustine Fan said: "Low trading volume is to be expected as sentiment has been subdued since the massive sell-off a few weeks ago. Notably, summer break and recent data have reduced fears of an impending recession and investors have had to wait for more signals from the Fed meeting later this week."