#btc Crypto market today: BTC ETFs hit $133B, Ethereum cofounder moves $262M ETH In a remarkable display of market momentum, Bitcoin exchange-traded funds (ETFs) have soared to record highs, Ethereum has seen a massive whale movement, and Argentina’s president has disbanded the task force that was investigating the controversial LIBRA scandal.
Bitcoin ETFs’ inflows exceed expectations
Bitcoin ETFs have reached a new milestone with assets under management (AUM) surpassing $133 billion, fueled by massive inflows and surging institutional demand.Spot Bitcoin ETF AUM | Source: The Block
In the past five weeks alone, Bitcoin spot ETFs recorded net inflows of $6.63 billion, with $667.40 million entering the funds on May 19 alone, according to Coinglass’ Total Bitcoin Spot ETF Net Inflow (USD) data.
This marks one of the most aggressive periods of accumulation since ETFs were introduced, hinting at strong confidence from institutional players.
The spike in inflows comes amid rising technical optimism. Analysts have pointed to a looming “golden cross,” a bullish signal that occurs when the 50-day simple moving average crosses above the 200-day average.
Historically, this pattern has preceded long-term rallies in Bitcoin’s price. Despite minor price pullbacks, market sentiment remains notably bullish.
In fact, even on days of correction, inflows persisted, revealing that investors are buying the dip rather than retreating.
Notably, the continued inflows have coincided with a broader shift in investor sentiment, as reflected by the Crypto Fear and Greed Index moving deeper into the “greed” zone.
Analysts view this convergence of sentiment and technical patterns as a foundation for Bitcoin’s next rally, possibly pushing it toward a fresh all-time high.
Ethereum co-founder’s $262M ETH transfer sparks speculation
While Bitcoin shines in the ETF arena, Ethereum faced renewed scrutiny following a significant whale movement linked to one of its cofounders.
Jeffrey Wilcke, a lesser-known but foundational figure in Ethereum’s early development, transferred 105,732 ETH (worth approximately $262 million) to Kraken, a move that immediately raised eyebrows in the crypto community.