Bitcoin ETF

Bitcoin

Million

Retail and institutional investors flock to buy spot Bitcoin ETFs as BTC price rallied nearly 7% to over $48,000 on Friday. BTC price extends upside momentum after Friday’s options expiry, recording a 12% rally in the last three days. Experts Share What’s Next. 
<h2 id="spot-bitcoin-etfs-saw-542-million-inflow">Spot Bitcoin ETFs Saw $542 Million Inflow</h2> 
According to the latest Bitcoin ETF inflow data, the new nine and Grayscale’s GBTC spot Bitcoin ETF saw a net inflow of $541.5 million on Friday, as United States investors FOMO before the market closes. 
BlackRock (IBIT), Fidelity (FBTC), and Ark 21Shares (ARKB) Bitcoin ETF recorded the largest inflows of $250.7, $188.4, and $136.5 million, respectively. Bitwise (BITB), VanEck (HODL), and others also saw significant inflows. However, Invesco Galaxy Bitcoin ETF (BTCO) witnessed a $17.4 million outflow. 
Notably, GBTC saw a $51.8 million outflow, the lowest outflow day yet for Grayscale’s spot Bitcoin ETF. Bloomberg ETF analyst James Seyffart reacted to the drop in GBTC outflow as the market awaits a paradigm shift in the spot Bitcoin ETF market. GBTC net outflow rises to $6.38 billion. 
Net inflow for spot Bitcoin ETF since the launch, excluding GBTC, reaches more than $9 billion. BlackRock and Fidelity Wise Origin Bitcoin ETFs leading with $3.7 billion and $3 billion inflows, respectively. 
<figure style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" src="https://pbs.twimg.com/media/GF9qKinWgAAXyDG?format=png&amp;name=large" alt="Bitcoin ETF flow" width="792" height="510">
 <figcaption class="wp-caption-text">
 Source: BitMEX Research
 </figcaption>
</figure> 
Also Read: <a href="https://coingape.com/gbtc-records-lowest-outflow-yet-at-51-8-million/" target="_blank" rel="noopener">GBTC Records Lowest Outflow Yet at $51.8 Million</a> 
<h2 id="bitcoin-looks-strong">Bitcoin Looks Strong</h2> 
As Coingape reported, Bitcoin price rose beyond $48,000, with high odds of breaking $50,000, which corresponds with a notable $405 million flow into <a href="https://coingape.com/bitcoin-etf-note-405-mln-inflow-btc-price-rally-47k/" target="_blank" rel="noopener">Bitcoin ETFs</a> on Thursday. The sentiment is higher as signaled by the Fear and Greed index value of 74 (greed). 
<a href="https://coingape.com/spot-bitcoin-etf-record-massive-rise-in-pre-market-as-btc-price-breaks-47000/" target="_blank" rel="noopener">Crypto stocks</a> such as Coinbase (<a href="https://coingape.com/crypto-stocks/COIN/" target="_blank" rel="noopener">COIN</a>) and MicroStrategy (<a href="https://coingape.com/crypto-stocks/mstr/" target="_blank" rel="noopener">MSTR</a>) opened over 6%, and Robinhood Markets (<a href="https://coingape.com/crypto-stocks/hood/" target="_blank" rel="noopener">HOOD</a>) up 2% amid BTC price rally, closing much higher. Coinbase closed 7.12% high at $141.99 and MicroStrategy closed 9.95% high at $646.32 on Friday. 
<a href="https://coingape.com/price/bitcoin" target="_blank" rel="noopener">BTC price</a> is trading at $47,308 paring some gains due to profit booking by traders in the last 24 hours. The 24-hour low and high are $46,136 and $48,152, respectively. Furthermore, trading volume has increased by more than 30%. 
Traders, especially in the U.S., anticipate a continued rally until the US CPI data release on February 13. Top analyst Michael van de Poppe predicts BTC price to hit $55K before <a href="https://coingape.com/halving/bitcoin-halving/" target="_blank" rel="noopener">Bitcoin halving</a> at this pace. He added that there is apparent resistance at $49-51K, but confirms it’s a bull market. 
<img decoding="async" src="https://pbs.twimg.com/media/GF9ZxbjXEAExUzA?format=png&amp;name=4096x4096" alt="Image"> 
Meanwhile, some such as CredibleCrypto and Skew remain skeptical of an immediate upside above $50k, saying the bleeding could continue a bit longer. 
Also Read: <a href="https://coingape.com/sec-chair-gary-gensler-seeks-2-4-billion-budget-staff-exodus/" target="_blank" rel="noopener">SEC Chair Gary Gensler Seeks $2.4 Bln Budget Amid Staff Exodus</a> 
The post <a href="https://coingape.com/bitcoin-etf-records-second-largest-net-inflow-542-million/">Bitcoin ETF Records Huge Net Inflow of $542 Million, Experts Reveals What’s Next?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Bitcoin ETF Records Huge Net Inflow of $542 Million, Experts Reveals What’s Next?

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