On Monday, the inflow of spot Bitcoin ETFs surged again, totaling $667 million. BlackRock's iShares Bitcoin Trust (IBIT) led the way, while Fidelity's FBTC and Ark Invest's ARKB also contributed significant inflows. BTC prices rebounded strongly today by 3%, breaking through the $105,565 mark. Additionally, technical charts show the formation of a 'golden cross', driving strong bullish sentiment.
BlackRock leads the inflow of spot Bitcoin ETFs again.
On Monday, the net inflow for BTC ETFs was $667 million, with BlackRock's IBIT contributing $306 million to the net inflow. Market analyst Nate Geraci stated that in the past 24 trading days, 23 of them saw a significant portion of inflows dominated by IBIT.
The ETF has received approximately $6.5 billion in new investments, reflecting strong investor confidence in Bitcoin's prospects. In just the past four trading days, the fund has added $1.1 billion in investments. On Monday, BlackRock's Bitcoin ETF IBIT increased its holdings by a total of 2,910 bitcoins, bringing its total holdings to 636,000 bitcoins.
However, data from Farside Investors shows that on Monday, Fidelity's Bitcoin ETF (FBTC) and Ark Invest's ARKB also contributed significant inflows, recording $188 million and $155 million respectively. Recent ETF inflows come as Bitcoin prices are surging, with Bitcoin's price up 3% today, and bulls targeting all-time highs.
BTC aims for a golden cross, seeking a bullish breakout.
After about a week of consolidation, Bitcoin prices are exhibiting strength again, rising 3% to break through $105,000. Additionally, data from Coinglass shows that open interest rose by 7% to $73 billion, and short liquidations soared to $45 million within 24 hours.
Renowned cryptocurrency analyst Benjamin Cowen emphasizes that Bitcoin is about to experience a 'golden cross', expected to occur in the coming days. This highlights the potential momentum for a strong upward trend in the future.
Moreover, data analytics firm CryptoQuant reports that Binance's Bitcoin spot net trading volume delta (in USD) has shown a positive change, indicating a revival in buying activity in the spot market. CryptoQuant states that this change marks a reduction in selling pressure. The recovery in spot buying interest is seen as a potential bullish indicator for Bitcoin's short-term price trend.
Bitcoin exhibits stronger strength as Moody's downgraded the U.S. credit rating last week, highlighting the escalating U.S. debt burden and increasing vulnerabilities within the national economy.
