Bitcoin Price Prediction as U.S. Spot ETFs Attract $66M – Are Whales Buying Again
Bitcoin is currently trading at $61,500, with a 24-hour trading volume of $28.28 billion. The cryptocurrency has dropped about 2.25% in the past day. Ranked first on Cryptonews, Bitcoin boasts a market cap of $1.21 trillion, with a circulating supply of 19,698,325 BTC and a maximum supply of 21,000,000 BTC.
The U.S. Spot Bitcoin ETF market has seen a significant $66 million inflow, marking a reversal from the outflow trend observed over the past two days. This surge is led by Fidelity’s FBTC, highlighting renewed investor interest in cryptocurrency-backed exchange-traded funds. Additionally, this influx coincides with a recovery in Bitcoin’s price.
Bitcoin ETFs saw a significant turnaround, with a $66 million net inflow after two days of outflows, according to Farside Investors. Leading this recovery is Fidelity’s FBTC, which attracted $38.6 million in inflows, followed by Bitwise Bitcoin ETF BITB with $20.3 million.
This influx demonstrates renewed trader confidence in Bitcoin ETFs, coinciding with Bitcoin’s recent surge past the $63,000 mark. The rise in inflows also suggests a growing appetite for cryptocurrency investments amid overall market volatility.
Key Points:
Over the last 30 trading days, the ten Bitcoin ETFs experienced a net outflow of $297 million, with outflows on 17 of those days. The recent $66 million inflow signals renewed bullish sentiment, particularly with Fidelity’s FBTC capturing the majority of the new investments.
This trend highlights the ongoing interest in Bitcoin ETFs, reflecting investors’ shifting strategies and confidence levels.
Bitcoin‘s 4-hour chart shows that BTC is hovering around a pivot point of $61,450, signaling slightly bullish Bitcoin price prediction. This level is crucial
