Bitcoin

Matrix

April

Time

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin ETFs recorded net inflows of almost $306 million on May 21.</li> 
 <li>BTC is now trading near $70k.</li> 
</ul> 
<p>The latest data coming from <a href="https://sosovalue.xyz/assets/etf/us-btc-spot" rel="nofollow noopener" target="_blank">SoSoValue</a> shows that Bitcoin ETFs recorded net inflows of almost $306 million on May 21.</p> 
<p>BlackRock’s Bitcoin ETF, IBIT, recorded a single-day net inflow of $290 million, and Fidelity’s Bitcoin ETF, FBTC, saw a net inflow of $26 million the other day. Grayscale’s Bitcoin ETF, GBTC, did not see any inflows or outflows.</p> 
<p>The total net asset value of the Bitcoin ETFs was of $58,9 billion, according to the same data.</p> 
<p>May 21 marks the seventh consecutive day in which Bitcoin ETFs recorded inflows.</p> 
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<h2 id="bitcoin-trades-near-70k">Bitcoin trades near $70k</h2> 
<p>At the moment of writing this article, BTC is trading close to $69.8k, down by almost 2% in the past 24 hours, according to data from <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="nofollow noopener" target="_blank">CoinMarketCap</a>.</p> 
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<p>Today, BTC’s price saw a slight correction after the other day which saw the price of the coin trading above the important level of $71k, and up by over 6% on the day.</p> 
<p>On May 21, the price of BTC got close to $71,800 for the first time since March.</p> 
<p>Bitcoin began a bullish ride during the past week, when, on May 15, the new&nbsp;<a href="https://crypto.ro/en/news/bitcoin-above-63k-following-todays-cpi-report/">CPI report</a> revealed revigorating data of an eased inflation for April of 3.4%.</p> 
<p>Following the bullish price moves from last week and the other day, Bitcoin was surrounded by optimistic predictions.</p> 
<p>A potential price catalyst that was recently announced by Bitcoin developers was the network<a href="https://crypto.ro/en/news/bitcoin-devs-network-programmability-is-the-next-btc-rally-trigger/"> programmability.</a></p> 
<p>Also, popular crypto analyst Willy Woo <a href="https://crypto.ro/en/news/bitcoin-wipes-out-85m-shorts-bull-flag-signals-surge-to-100k-price-target/">commented</a> on Bitcoin’s recent price rally, saying that consolidation of the price under all-time highs needs to hold for a while before the coin can see fresh ATHs.</p> 
<p>The other day, new<a href="https://x.com/realMatrixport/status/1792864427441787210" target="_blank" rel="nofollow noopener">&nbsp;reports</a> coming from the Matrixport crypto platform suggested that we could see Bitcoin at a <a href="https://crypto.ro/en/news/bitcoin-could-reach-ath-within-days/">new ATH</a> these days.</p> 
<p>They posted on their X account that although Matrix on Target has been expecting a consolidation for the majority of the last couple of months, their last two weekly reports have been constructive and outright bullish again.</p> 
<p>The team at Matrixport also cited bullish Trump moves, calling the former President Bitcoin’s “biggest upside risk”.</p>

Bitcoin ETFs Recorded $306M Inflows, BTC Near $70k

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