Bitcoin ETFs Attract $117 Million in Inflows Amid Continued Institutional Confidence and Mixed Market Sentiment

  • Bitcoin ETFs continue to attract institutional interest, with significant inflows recorded, highlighting a strong market sentiment amidst price fluctuations.

  • Despite a decline in inflows from the previous day, the overall trend suggests robust confidence in Bitcoin’s future among investors.

  • According to COINOTAG, “The consistent demand for Bitcoin ETFs showcases a change in institutional strategy towards crypto assets amidst market volatility.”

Bitcoin ETFs see noteworthy inflows as investor confidence remains strong; BTC’s price surge impacts market dynamics across futures and options sectors.

Bitcoin ETFs See Another Day of Inflows

Yesterday, Bitcoin-backed ETFs recorded a net inflow of $117.46 million, down 17% from the previous day’s $142.31 million. While the slight dip may reflect profit-taking after BTC surged past the $100,000 mark, the continued inflows still signal growing investor confidence in the leading cryptocurrency.

Total Bitcoin Spot ETF Net Inflow.

On Thursday, BlackRock’s iShares Bitcoin Trust (IBIT) led the trend, posting the highest daily inflow among all ETF issuers. The fund recorded a net inflow of $69 million for the day, pushing its total historical net inflow to $44.35 billion.

Fidelity’s ETF, FBTC, came in second with a daily net inflow of $35.34 million. Its total historical net inflow now stands at $11.67 billion.

Notably, none of the 12 ETFs logged net outflows yesterday.

BTC Rally Fuels Futures Frenzy

BTC’s break above the psychological six-figure threshold during Thursday’s trading session has reignited bullish momentum across markets.

This is reflected by the coin’s futures open interest, which currently stands at $67.45 billion and has climbed 5% over the past day. When an asset’s open interest climbs alongside its price, new money is entering the market to support the trend, indicating strong bullish momentum.

BTC Futures Open Interest.

Moreover, BTC’s funding rate has soared to its highest level since February 28, reflecting a multi-month high demand for long positions among futures traders. As of this writing, the metric is at 0.0109%.

BTC Funding Rate

A high funding rate like this means traders holding long positions are paying a premium to remain in the trade, which can reinforce bullish sentiment in the BTC market in the short term.

However, while ETF investors and futures traders appear to be leaning bullish, the options market shows signs of caution. Data indicates a growing demand for downside protection, with increased activity around put options.

BTC Options Open Interest.

The mixed sentiment could shape short-term price action as markets digest BTC’s rally above $100,000 and assess whether it can continue.

Conclusion

In summary, Bitcoin’s strong performance in ETF inflows, combined with bullish futures activity, reflects a confident market outlook. However, the rising interest in put options suggests that participants remain wary of potential price corrections. Investors should stay informed and approach the market with a balanced view.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Concerns Rise as US Credit Default Swaps Hit 12-Year High: What Investors Need to Know

COINOTAG News, June 1st – Recent analysis from The...

Bitcoin’s Key Price Levels: $103,000 and $105,000 Hold Crucial Liquidation Intensity for Traders

As reported by COINOTAG News on June 1st, recent...

Trump’s Intense Reaction to ‘TACO’: Market Implications and Investor Concerns

COINOTAG News, June 1st. The term "TACO" (Trump Always...

Silk Road Founder Ross Ulbricht’s Prison Auction Raises 1.8 Million in Bitcoin

On June 1st, COINOTAG reported on a noteworthy auction...

SEC Raises Concerns Over Ethereum Staking ETFs, Impeding REX Shares Launch

The U.S. Securities and Exchange Commission (SEC) has raised...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img