Bitcoin ETF cash flow hits $588 million – Highest in June
Bitcoin price has experienced significant volatility in recent days, influenced by geopolitical tensions in the Middle East. BTC price dropped to a low of $98,200 after U.S. attacks on Iran but quickly recovered and rose nearly 9% in the past 3 days as ceasefire negotiations emerged. This event has bolstered market confidence, setting the stage for BTC to challenge the historical peak of $112,000 again.
According to the latest report, the Bitcoin ETF cash flow over the past 30 days has an R² correlation coefficient of 0.80 with BTC returns. This confirms that spot ETFs remain the main driving force influencing the cryptocurrency market today. Notably, the inflow into U.S. Bitcoin ETFs has extended an 11-day streak with a total value of $2.2 billion from June 10 to now, demonstrating increasing interest from institutional investors.
Anthony Pompliano and ProCap BTC have purchased an additional $386 million in Bitcoin, following previous purchases by Strategy, Metaplanet, and Blockchain Group, strengthening their cryptocurrency portfolio's financial position.
Bitcoin ETF Cash Flow Analysis – Leverage Driving BTC Prices Up
According to data from Farside Investors, on Tuesday alone, BTC ETF funds recorded an inflow of $588.6 million – the highest level in June. The 11 consecutive days of positive ETF cash flow is the strongest stretch since December 2024. BlackRock is the largest buyer, pouring $436 million into iShares Bitcoin Trust (IBIT) and an additional $98 million into the Ethereum fund. Fidelity also transferred $217.6 million in new capital into the FBTC fund.
Meanwhile, Grayscale shows selling pressure as GBTC exits $85.2 million, while their ETHE lost $26.7 million. The divide between NFT ETFs and base-layer cryptocurrencies indicates a rebalancing in investment strategies.
Bitcoin Price Outlook: Is a retest of the $112,000 mark within reach?
Q2 recorded a spectacular rise in Bitcoin from $75,000 to $112,000, equivalent to an increase of nearly 49% on May 22. However, after that, BTC price consolidated, forming a flag pattern in June. The recent upward momentum from the bottom to the top of this price range suggests a high probability that the price will break above, allowing for a retest of the $112,000 peak.
If the price breaks through this resistance zone, the market may experience a strong breakout, pushing Bitcoin deeper into the next bullish trend. Smart investors should closely monitor ETF cash flows and technical indicators to seize entry opportunities.
Conclusion: The large inflow of ETF capital into the market and political stability are two vital factors driving the rapid recovery of Bitcoin price, approaching historical peaks. Technical indicators also support a strong bullish outlook in the short term. This is a crucial time for cryptocurrency investors to prepare holding strategies or open new positions, taking advantage of the coming major wave.
Source: https://tintucbitcoin.com/bitcoin-etf-hut-von-gia-len-112k/
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