Bitcoin ETF

Bitcoin

Spot

The <a href="https://coingape.com/education/bitcoin-spot-etf/" target="_blank" rel="noopener noreferrer nofollow">U.S. Spot Bitcoin ETF</a> has witnessed a remarkable surge in weekly inflows, hitting a staggering $2.5 billion by the end of March 15. This resurgence in institutional interest signals a revival of confidence among Wall Street players toward the cryptocurrency market.
However, as the market braces for the Federal Open Market Committee (FOMC), concerns loom over a potential correction in Bitcoin’s price amid recent volatility.
<h2 id="bitcoin-etf-inflow-soars-signaling-wall-street-interest">Bitcoin ETF Inflow Soars Signaling Wall Street Interest</h2>
According to Farside Investors’ <a rel="noopener noreferrer nofollow" href="https://farside.co.uk/?p=997" target="_blank">data</a>, the U.S. Spot Bitcoin ETF recorded a substantial inflow of $198.8 million on March 15, marking a notable increase from the previous day’s $132.7 million. Fidelity’s FBTC also demonstrated a remarkable surge, surpassing <a href="https://coingape.com/blackrock-fidelity-records-700-mln-inflow-bitcoin-price-rally/" target="_blank" rel="noopener noreferrer nofollow">BlackRock’s IBIT</a> with an influx of $155.6 million on the same day, compared to a mere $13.7 million on March 14.
Notably, BlackRock’s IBIT saw a decrease to $139.8 million on Friday from $345.4 million the prior day. In contrast, <a href="https://coingape.com/grayscale-files-crucial-spot-ethereum-etf-amendment-is-approval-imminent/" target="_blank" rel="noopener noreferrer nofollow">Grayscale’s</a> GBTC outflow cooled to $139.4 million on Friday, from $257.1 million outflux on Thursday.
<figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://pbs.twimg.com/media/GIw5kXXWMAA2P9Z?format=jpg&amp;name=large" alt="Bitcoin ETF Inflow" width="751" height="1069">
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 Source: Farside Investors
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Meanwhile, the week saw robust inflows, particularly in the initial three days, propelling the total weekly inflows to an impressive $2.56 billion. Analysts attribute this surge to the recent rally in <a href="https://coingape.com/glossary/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a>, which soared to new all-time highs, garnering heightened institutional interest in the flagship cryptocurrency.
Despite the positive momentum, investors are treading cautiously ahead of the pivotal <a href="https://coingape.com/bitcoin-btc-price-recoups-70000-showing-strength-before-fomc-will-eth-catch-up/" target="_blank" rel="noopener noreferrer nofollow">FOMC</a> decision next week. With market participants eagerly awaiting the committee’s decision, anticipation looms over the Fed’s stance on potential rate hikes amid persistently high inflation figures.
Also Read: <a href="https://coingape.com/solana-price-approach-200-amid-historic-spike-in-new-spl-token-creation/" target="_blank" rel="noopener noreferrer nofollow">Solana Price Approach $200 Amid Historic Spike in New SPL Token Creation</a>
<h2 id="optimism-concerns-amid-market-volatility">Optimism &amp; Concerns Amid Market Volatility</h2>
The recent <a href="https://coingape.com/glossary/consumer-price-index-cpi/" target="_blank" rel="noopener noreferrer nofollow">Consumer Price Index (CPI)</a> and Producer Price Index (PPI) data revealing hotter-than-expected inflation have weighed on investor sentiment, prompting a more guarded approach amidst market uncertainties. Considering that, several market analysts are anticipating volatile trading ahead of the FOMC decision next week.
However, despite the market’s short-term fluctuations, Bitcoin has shown resilience, reclaiming momentum and surging past the $70,000 mark within the last 24 hours. Analysts remain optimistic about the cryptocurrency’s future performance, buoyed by anticipation surrounding the upcoming <a href="https://coingape.com/glossary/bitcoin-halving/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Halving</a> event.
While historical trends suggest a robust rally in Bitcoin’s price following halving events, investors remain cognizant of inherent uncertainties. Nevertheless, the prevailing sentiment underscores a prevailing optimism towards Bitcoin’s long-term trajectory.
As of writing, the <a href="https://coingape.com/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin price</a> was up 1.84% to $69,042.30, while its trading volume fell 18.28% to $61.70 billion. Over the last 24 hours, the BTC price has touched a high of $70,557.61 and a low of $65,630.69.
<figure id="attachment_186187" aria-describedby="caption-attachment-186187" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class=" wp-image-186187" src="https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Price-Chart-16-03-24.png" alt="Bitcoin Price Chart" width="756" height="458" srcset="https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Price-Chart-16-03-24.png 1012w, https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Price-Chart-16-03-24-300x182.png 300w, https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Price-Chart-16-03-24-768x465.png 768w, https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Price-Chart-16-03-24-150x91.png 150w" sizes="(max-width: 756px) 100vw, 756px">
 <figcaption id="caption-attachment-186187" class="wp-caption-text">
 Bitcoin Price Chart
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Also Read: <a href="https://coingape.com/bitcoin-sopr-data-shows-major-btc-price-consolidation-for-march/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin SOPR Data Shows Major BTC Price Consolidation for March</a>
The post <a href="https://coingape.com/bitcoin-etf-records-2-5b-weekly-inflows-btc-price-correction-looms-near-fomc/" rel="noopener noreferrer nofollow">Bitcoin ETF Records $2.5B Weekly Inflows, BTC Price Correction Looms Near FOMC?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Bitcoin ETF Records $2.5B Weekly Inflows, BTC Price Correction Looms Near FOMC?

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