The leading cryptocurrency, Bitcoin, extended its appreciation yesterday, reaching a new historical record of $111,968. The advance generated enthusiasm among investors, resulting in over $900 million in inflows into spot Bitcoin ETFs.
This movement represented the largest daily inflow since April 22.
$934 million enters Bitcoin ETFs in a single day
Inflows into BTC-linked funds totaled $934.74 million yesterday, the largest daily volume since April 22. According to data from SosoValue, this was also the seventh consecutive day of positive flows, indicating a significant recovery in institutional confidence throughout the week.
Total Net Inflow of Bitcoin Spot ETF. Source: SosoValue
The positive performance of BTC this week has spurred renewed interest in ETFs. Ongoing inflows indicate that investors are not only reacting to short-term movements but also demonstrating confidence in the long-term potential of the currency.
On Thursday, BlackRock's IBIT ETF recorded the largest net inflow of the day, with $877.18 million, raising its total accumulated to $47.55 billion.
On the same day, Fidelity's FBTC ETF had the second-largest net inflow, totaling $48.66 million. Thus, the fund's total historical volume reached $11.88 billion.
BTC slightly declines with profit-taking.
BTC is currently trading at $110,752, with a slight decline of 1% in the last 24 hours. The retreat follows the historical high recorded yesterday and appears to be mainly motivated by profit-taking by investors.
With the asset reaching a new peak, various short-term traders took the opportunity to secure gains, contributing to the observed downward movement.
Despite the correction, the futures market maintains signs of optimism and resilience. The BTC funding rate remains positive, indicating that traders continue to pay a premium to sustain long positions. At the time of this report, the rate is at 0.0105%.
BTC Funding Rate. Source: Coinglass
The ongoing demand for leverage indicates that market participants continue to bet on further appreciation, reinforcing the interpretation that the recent retreat represents a healthy consolidation phase rather than a reversal to a bearish trend.
On the other hand, an analysis of sentiment in the options market reveals a more cautious scenario. On-chain data points to a higher volume of put options compared to call options this Friday, suggesting that many investors are positioning themselves in light of the risk of decline or adopting hedge strategies.
Open Interest in BTC Options. Source: Deribit
These trends reveal a scenario where short-term caution coexists with long-term optimism from institutional investors.
The article 'New Bitcoin Peak Moves Largest Monthly Volume in ETFs' was first seen on BeInCrypto Brasil.
