- The substantial inflow came as bulls made an extremely bullish move on Bitcoin, pushing the BTC price above $57,000.
- According to Farside’s data, the net inflow of spot Bitcoin exchange-traded funds (ETFs) was $520 million on February 26th.
- The Crypto Fear and Greed Index rose from 72 (Neutral) to 79 (Extreme Greed) on Monday. This signifies a critical moment when traders show exceptionally high interest in BTC.
While the Bitcoin price set a new yearly record above $57,000, spot Bitcoin ETFs recorded inflows of more than $500 million.
Spot Bitcoin ETFs Witnessing More Inflows
Spot Bitcoin ETFs started another strong day on Monday, recording an inflow of $520 million. The significant inflow came as bulls made an extremely bullish move on Bitcoin, pushing the BTC price above $57,000. As reported by COINOTAG earlier, the supply shock experienced before the Bitcoin halving is expected to cause BTC to surpass $55,000 in a short period.
According to Farside’s data, the net inflow of spot Bitcoin exchange-traded funds (ETFs) was $520 million on February 26th. Almost all nine spot Bitcoin ETFs recorded significant inflows, while Grayscale’s GBTC saw another decrease in BTC outflow, indicating strong bullish sentiment among retail and institutional investors.
BlackRock (IBIT) recorded a record inflow of $111.8 million, bringing the net inflow to $6 billion. The asset value of BlackRock’s Bitcoin ETF has almost reached $7 billion. However, the star of the day was Fidelity Bitcoin ETF.
Fidelity (FBTC) and Ark 21Shares (ARKB) Bitcoin ETFs saw $243.3 million and $130.6 million, respectively. Bitwise (BITB), VanEck (HODL), and others also saw significant inflows amid bullish sentiment. Additionally, GBTC saw an outflow of $22.4 million, an increase from the $51.8 million outflow on Friday but in line with the range of the past week.
Furthermore, Bloomberg ETF analyst James Seyffart noted that there was a record low outflow for this fund. With a record volume of $3.84 billion and net inflows, it surpassed $57,000, rising above $55,000 in less than 30 minutes.
BTC Price Surpasses $57,000
The Crypto Fear and Greed Index rose from 72 (Neutral) to 79 (Extreme Greed) on Monday. This signifies a critical moment when traders show exceptionally high interest in BTC. Experts predict that the BTC price will reach $60,000 before the bitcoin halving. This rally comes after MicroStrategy announced the purchase of approximately 3,000 additional tokens this month. With this latest purchase, the company’s Bitcoin assets now amount to 193,000.
The BTC price rose to a peak of $57,250 and is trading 19.9% below the $68,600 high set 27 months ago. The price is currently trading at $56,700 and has increased by more than 10% in the last 24 hours. The 24-hour low and high values are $50,931 and $57,073, respectively. Additionally, the trading volume has seen a significant increase of 230% in the last 24 hours, indicating growing interest among traders.
