Bitcoin-ETFs raised $1 billion
According to SosoValue, bitcoin-ETFs raised $1.02 billion this week, showing the confidence of institutional investors despite the coin's weak performance and growing geopolitical tensions in the Middle East.
The BTC price continues to fluctuate in a narrow range: between resistance at $105,000 and support at $103,000. The coin fell to an intraday low of $103,929 on Thursday before recovering to close near $105,000.
Meanwhile, demand for spot bitcoin ETFs has remained steady, although the volume of daily inflows has fluctuated. The continued interest shows that institutional traders see the price drop as a lucrative buying opportunity and continue to believe in the coin's long-term potential.
Bitcoin traders remain optimistic
Onchain data shows cautious optimism. For example, funding rates on derivatives platforms remain positive, suggesting traders are willing to hold long positions.
In the options market, demand for calls exceeds puts. This means that cryptans are waiting for cryptocurrency growth in the short term.
