Bitcoin ETFs Experience $240 Million Inflows, Ending Six-Day Outflow Streak

According to Cointelegraph, Bitcoin exchange-traded funds (ETFs) saw a significant turnaround on Thursday, recording $240 million in inflows after a six-day period of outflows. This shift has led traders to anticipate a potential recovery, contingent on Bitcoin maintaining its position above the 50-week exponential moving average (EMA). The inflows mark a positive change for U.S.-based spot Bitcoin ETFs, which had been experiencing net outflows since October 29. The largest outflows occurred on Tuesday, totaling $577.74 million, following a market correction that pushed Bitcoin's price below $100,000 for the first time since June. On Tuesday, the BTC/USD pair hit a four-month low of $98,900, but the price rebounded by 3% on Friday. The most substantial inflow was recorded by BlackRock’s ETF, IBIT, which attracted $112.4 million. Fidelity’s FBTC followed with $61.6 million, while ARK Invest’s ARKB added $60.4 million. Bitwise’s BITB saw moderate inflows of $5.5 million and $2.48 million, while other ETFs experienced no inflows or outflows. Despite recent fluctuations, cumulative net inflows remain strong at $60.5 billion, and total net assets across all spot Bitcoin ETFs stand at $135.43 billion, representing 5.42% of Bitcoin’s total market capitalization. Bitcoin's price action around the 50-day EMA has been a focal point for traders, as it represents a critical support level. After dipping to $98,000 on Tuesday, Bitcoin quickly regained the $100,000 mark, aligning with the 50-day EMA. This level has been a significant support since September 2023, and maintaining it is crucial for bullish sentiment. U.S. President Donald Trump has not commented on the recent developments in the Bitcoin market. Technical analysts have emphasized the importance of Bitcoin closing above the 50-week simple moving average (SMA) to avoid potential complications. Pseudonymous analyst Chad noted that Bitcoin is currently holding the 50-week EMA, stressing the importance of closing the week above this level. Fellow analyst Rekt Capital suggested that Bitcoin might be forming a bottom around the 50-day EMA, requiring a series of lower lows to establish a firm base. As reported by Cointelegraph, the Market Value to Realized Value (MVRV) ratio indicates that $98,000 could have marked a local bottom for Bitcoin, hinting at a possible price recovery due to seller exhaustion. This article does not provide investment advice or recommendations. Readers are encouraged to conduct their own research before making any investment or trading decisions.