- U.S Spot Bitcoin ETFs logged 7,869 BTC inflows, exhibiting renewed institutional curiosity and momentum
- Rising Open Curiosity and bullish value motion prompt merchants could also be positioning for a possible breakout
U.S Spot Bitcoin [BTC] ETFs have simply logged their largest single-day influx in almost a month – Including 7,869 BTC.
This surge is a part of a broader wave of funding momentum returning to the digital asset area, an indication that institutional gamers could also be gearing up for a renewed push into Bitcoin.
Bitcoin ETFs – One of many 12 months’s greatest inflows
Final Friday, U.S Spot Bitcoin ETFs noticed certainly one of their largest single-day internet inflows of the 12 months, including 7,869 BTC to their holdings. Actually, this marked the most important each day influx since 29 April.
Supply: Glassnode
Supporting this development, the 7-day SMA of ETF inflows has additionally been trending upwards, underlining a sustained build-up reasonably than a one-off occasion.
As confidence in Bitcoin continues to develop, particularly amongst institutional gamers, these inflows may carry additional bullish momentum out there.
Merchants place for additional upside
Including to the bullish narrative, Open Curiosity throughout all exchanges has additionally been trending sharply larger.
For instance – In line with CryptoQuant, Open Curiosity rose from roughly $31 billion in late April to over $37 billion by 26 Could.
Supply: Cryptoquant
The parallel rise in Bitcoin’s value and Open Curiosity prompt that capital inflows haven’t been passive. As an alternative, they’re actively fueling directional bets – Probably setting the stage for additional upside volatility.
Technical momentum builds close to overbought zone
Bitcoin was buying and selling at round $109,616, at press time, consolidating after a pointy transfer north.
Its each day RSI stood at 67.48 – Hovering slightly below the overbought threshold of 70. This hinted at robust bullish momentum, with the crypto not flashing warning indicators of exhaustion simply but.
Supply: TradingView
Bitcoin’s value motion revealed a wholesome sequence of upper highs and better lows, with latest candles forming tight-bodied ranges – A attainable continuation sample.
Such a sideways drift close to the highs might be a bullish flag, typically previous additional breakout strikes. Ought to ETF inflows persist, this technical construction might present the increase for BTC to check new highs above $112,000 within the quick time period.
