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Bitcoin ETF Inflows Rise Again As BTC Price Eyes All-Time High


by Bhushan Akolkar
for Coinspeaker
Bitcoin ETF Inflows Rise Again As BTC Price Eyes All-Time High

Bitcoin ETF inflows have resumed once again this week, reaching $386 million on Monday amid renewed institutional optimism as Bitcoin price BTC $108 800 24h volatility: 0.9% Market cap: $2.16 T Vol. 24h: $39.12 B jumps 4% to $110K, eyeing a potential breakout to fresh all-time highs.

Over the last ten days, the Bitcoin ETF market has experienced strong selling pressure following massive inflows from mid-April to late May. Meanwhile, Ethereum ETF inflows have gathered pace, signaling classic capital rotation from BTC to ETH ETH $2 738 24h volatility: 7.9% Market cap: $330.71 B Vol. 24h: $33.68 B .

However, inflows into spot Bitcoin ETFs have resumed as Bitcoin price approaches its all-time highs and prepares for a new price discovery zone.

According to data from Farside Investors, Fidelity’s FBTC led with the highest inflows at $173 million, while BlackRock’s IBIT came second at $120.9 million.

BlackRock Bitcoin ETF Hits Key Milestone

BlackRock Bitcoin ETF has been dominating the market with $48.7 billion inflows, and net assets under management crossing $70 billion. Bloomberg Senior ETF Strategist Eric Balchunas reported that BlackRock’s IBIT has set a new record as the fastest ETF to reach this milestone.

Achieving this in just 341 days, $IBIT outpaced the previous record set by GLD, which took 1,691 days, five times longer, to hit the same mark.

Some market players tried to downplay this achievement, stating that it was a very “little lift”. Responding to this, Balchunas highlighted that Bitcoin has risen from $30,000 when BlackRock filed for IBIT to $110,000 now, delivering returns seven times greater than the S&P 500 while gaining legitimacy among major investors.

Bitcoin Funding Rate Flips Positive in a Bullish BTC Price Action

Bitcoin is currently trading at $110,227, marking a 4% gain in the past 24 hours. On the derivatives front, the funding rate has turned positive at 0.0017%, indicating a shift toward bullish market positioning.

Bitcoin funding rate flips in positive territory

Bitcoin funding rate flips in positive territory – Source: Coinglass

The funding rate, a periodic payment exchanged between traders in perpetual futures contracts, helps align futures prices with the spot market. A positive funding rate reflects bullish sentiment and increased demand for long positions.

The US CPI data numbers on Wednesday will play a pivotal role in deciding the future Bitcoin price trajectory. Currently, BTC is following the Global M2 Money supply, with a 71-day lag, hinting at the next price target of $125,000.

The post Bitcoin ETF Inflows Rise Again As BTC Price Eyes All-Time High appeared first on Coinspeaker.

Read the article at Coinspeaker

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Bitcoin ETF Inflows Rise Again As BTC Price Eyes All-Time High


by Bhushan Akolkar
for Coinspeaker
Bitcoin ETF Inflows Rise Again As BTC Price Eyes All-Time High

Bitcoin ETF inflows have resumed once again this week, reaching $386 million on Monday amid renewed institutional optimism as Bitcoin price BTC $108 800 24h volatility: 0.9% Market cap: $2.16 T Vol. 24h: $39.12 B jumps 4% to $110K, eyeing a potential breakout to fresh all-time highs.

Over the last ten days, the Bitcoin ETF market has experienced strong selling pressure following massive inflows from mid-April to late May. Meanwhile, Ethereum ETF inflows have gathered pace, signaling classic capital rotation from BTC to ETH ETH $2 738 24h volatility: 7.9% Market cap: $330.71 B Vol. 24h: $33.68 B .

However, inflows into spot Bitcoin ETFs have resumed as Bitcoin price approaches its all-time highs and prepares for a new price discovery zone.

According to data from Farside Investors, Fidelity’s FBTC led with the highest inflows at $173 million, while BlackRock’s IBIT came second at $120.9 million.

BlackRock Bitcoin ETF Hits Key Milestone

BlackRock Bitcoin ETF has been dominating the market with $48.7 billion inflows, and net assets under management crossing $70 billion. Bloomberg Senior ETF Strategist Eric Balchunas reported that BlackRock’s IBIT has set a new record as the fastest ETF to reach this milestone.

Achieving this in just 341 days, $IBIT outpaced the previous record set by GLD, which took 1,691 days, five times longer, to hit the same mark.

Some market players tried to downplay this achievement, stating that it was a very “little lift”. Responding to this, Balchunas highlighted that Bitcoin has risen from $30,000 when BlackRock filed for IBIT to $110,000 now, delivering returns seven times greater than the S&P 500 while gaining legitimacy among major investors.

Bitcoin Funding Rate Flips Positive in a Bullish BTC Price Action

Bitcoin is currently trading at $110,227, marking a 4% gain in the past 24 hours. On the derivatives front, the funding rate has turned positive at 0.0017%, indicating a shift toward bullish market positioning.

Bitcoin funding rate flips in positive territory

Bitcoin funding rate flips in positive territory – Source: Coinglass

The funding rate, a periodic payment exchanged between traders in perpetual futures contracts, helps align futures prices with the spot market. A positive funding rate reflects bullish sentiment and increased demand for long positions.

The US CPI data numbers on Wednesday will play a pivotal role in deciding the future Bitcoin price trajectory. Currently, BTC is following the Global M2 Money supply, with a 71-day lag, hinting at the next price target of $125,000.

The post Bitcoin ETF Inflows Rise Again As BTC Price Eyes All-Time High appeared first on Coinspeaker.

Read the article at Coinspeaker

Read More

Bitcoin Moves Into $12 Trillion Sector: Why BTC In 401Ks Is A Big Deal

Bitcoin Moves Into $12 Trillion Sector: Why BTC In 401Ks Is A Big Deal

The potential integration of Bitcoin (BTC), the world’s largest cryptocurrency, into ...
Can Bitcoin Reclaim Its All-Time High? Analyst Points To Key Level For A Comeback

Can Bitcoin Reclaim Its All-Time High? Analyst Points To Key Level For A Comeback

The Bitcoin price has been enjoying some form of resurgence over the past week, retur...