Spot Bitcoin ETFs have recorded a strong inflow of 70M this week after four weeks of continuous outflows, resulting in a positive shift in the market. Over the past month, ETFs lost a total of 4.35B, but finally, inflows have brought back momentum. On Friday, Bitcoin ETFs saw an inflow of 71M, bringing total cumulative inflows to 57.7B. The total assets of US spot Bitcoin ETFs have now reached 119.4B, which is approximately 6.5 percent of the Bitcoin market cap. This week, there was a noticeable difference in inflows and outflows among issuers. BlackRock IBIT experienced an outflow of 113.7M, while Fidelity FBTC had an inflow of 77.5M and ARK 21Shares ARKB recorded an inflow of 88M, leading to a positive close for the overall category. Spot Ether ETFs have also reported weekly inflows of 312.6M after three weeks of losses. In November, ETH ETFs faced an outflow of 1.74B, but this week, inflows have improved sentiment, with an inflow of 76.6M recorded on Friday. Cumulative ETH ETF inflows have now reached 12.94B, and total ETF assets are around 19.15B. Analysts are now looking at the possibility of Bitcoin's short-term bottom formation. Mister Crypto highlighted that BTC RSI is near the oversold zone and whales are reopening longs, which typically signals a relief rally. Targets are expected between 100K and 110K. Andre Dragosch of Bitwise Europe stated that the macro environment is improving, but BTC price still does not reflect that improvement, making upside potential strong. ETF flows are stabilizing, on-chain accumulation is returning, and analysts say Bitcoin is preparing for the next upside move after exiting the multiweek correction phase.
#Bitcoin
#BitcoinETF
#BTCInflows
BTC
86,541.27
-3.44%
ETH
2,947.77
-5.81%
BNB
865.06
-2.68%
