2024

Bitcoin

Time

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>The total net inflows in Bitcoin ETFs were of $252 million on May 24.</li> 
 <li>BTC is now trading above $68k.</li> 
</ul> 
<p>According to the latest reports coming from <a href="https://sosovalue.xyz/assets/etf/us-btc-spot" rel="nofollow noopener" target="_blank">SoSoValue</a>, Bitcoin ETFs recorded inflows of $252 million on May 24, making this the tenth consecutive day in which the crypto products saw inflows.</p> 
<p>Here are the net inflows for the previous day, according to official data:</p> 
<ul> 
 <li>BlackRock’s Bitcoin ETF, IBIT, recorded inflows of $182 million.</li> 
 <li>Fidelity’s Bitcoin ETF, FBTC, saw inflows of $44 million.</li> 
 <li>ArkInvest and 21Shares’ Bitcoin ETF, ARKB, recorded inflows of $4 million.</li> 
 <li>Bitwise’s Bitcoin ETF, BITB, saw inflows of $6 million.</li> 
 <li>VanEck’s Bitcoin ETF, HODL, recorded inflows of $16 million.</li> 
</ul> 
<p>The other crypto products did not see any inflows or outflows the other day, according to SoSoValue.</p> 
<figure id="attachment_43275" aria-describedby="caption-attachment-43275" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/05/Untitled.png"><img loading="lazy" decoding="async" class="wp-image-43275 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/05/Untitled.png" alt="SoSoValue Data" width="1646" height="696" title="Bitcoin ETFs Recorded $252M Inflows, BTC Above $68k 12" srcset="https://crypto.ro/en/wp-content/uploads/2024/05/Untitled.png 1200w, https://crypto.ro/en/wp-content/uploads/2024/05/Untitled-300x127.png 300w, https://crypto.ro/en/wp-content/uploads/2024/05/Untitled-1024x433.png 1024w, https://crypto.ro/en/wp-content/uploads/2024/05/Untitled-768x325.png 768w, https://crypto.ro/en/wp-content/uploads/2024/05/Untitled-750x317.png 750w, https://crypto.ro/en/wp-content/uploads/2024/05/Untitled-1140x482.png 1140w" sizes="(max-width: 1646px) 100vw, 1646px"></a>
 <figcaption id="caption-attachment-43275" class="wp-caption-text">
  SoSoValue Data
 </figcaption>
</figure> 
<p>The total net asset value of the Bitcoin ETFs was $59 billion, according to the same data.</p> 
<h2 id="btc-is-trading-above-68k">BTC is trading above $68k</h2> 
<p>At the moment of writing this article, BTC is trading above the important mark of $68,000 and the coin is up by over 2% in the past 24 hours.</p> 
<div class="cryptoboxes " data-realtime="on">
 <div class="coinmc-chart coinmc-trigger">
  <div class="cmc-row middle-md between-md">
   <div class="cmc-md-7 cmc-sm-12 cmc-xs-12">
    <ul class="coinmc-filter coinmc-chart-period">
     <li>
      <div class="coinmc-filter-label">
       Zoom
      </div></li>
     <li>
      <div class="coinmc-filter-button" data-period="hour">
       Hour
      </div></li>
     <li>
      <div class="coinmc-filter-button" data-period="day">
       Day
      </div></li>
     <li>
      <div class="coinmc-filter-button" data-period="week">
       Week
      </div></li>
     <li>
      <div class="coinmc-filter-button active" data-period="month">
       Month
      </div></li>
     <li>
      <div class="coinmc-filter-button" data-period="year">
       Year
      </div></li>
     <li>
      <div class="coinmc-filter-button" data-period="all">
       All Time
      </div></li>
    </ul>
   </div>
   <div class="cmc-md-5 cmc-sm-12 cmc-xs-12 end-md start-sm start-xs">
    <ul class="coinmc-filter coinmc-chart-type">
     <li>
      <div class="coinmc-filter-label">
       Type
      </div></li>
     <li>
      <div class="coinmc-filter-button active" data-type="chart">
       <i class="fas fa-chart-line"></i> Line Chart
      </div></li>
     <li>
      <div class="coinmc-filter-button" data-type="candlestick">
       <i class="fas fa-sliders-h"></i> Candlestick
      </div></li>
    </ul>
   </div>
  </div>
  <div class="cmc-row">
   <div class="cmc-md-12">
    <div class="chart-wrapper" data-config="{&quot;type&quot;:&quot;chart&quot;,&quot;coin&quot;:&quot;bitcoin&quot;,&quot;symbol&quot;:&quot;BTC&quot;,&quot;currency&quot;:&quot;USD&quot;,&quot;period&quot;:&quot;month&quot;,&quot;theme&quot;:&quot;light&quot;,&quot;smooth&quot;:true,&quot;areaColor&quot;:&quot;rgb(37,179,98, 0.8)&quot;,&quot;font&quot;:&quot;Saira&quot;,&quot;rate&quot;:1}"></div>
   </div>
  </div>
 </div>
</div> 
<p>Earlier today, BTC reached prices over $69,200, before the coin slightly dropped below the $69,000 level.</p> 
<p>Bitcoin has been recently surrounded by <a href="https://crypto.ro/en/news/bitcoin-traders-predict-false-drop-foresee-impending-price-surge/">optimistic</a> price predicitons. For instance, <a href="https://x.com/woonomic/status/1793207316281782637" rel="nofollow" target="_blank">Willy Woo</a> said that if BTC holds its price near current levels, we might be able to see <a href="https://x.com/woonomic/status/1792786500926722103" rel="nofollow" target="_blank">new ATHs</a> for the coin soon.</p> 
<p>He also highlighted that after a break of ATH, the price of the coin is expected to move violently relative to capital inflows, driving up risk – this is where most of the fast gains happen.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">Where we sit in the zoomed out picture…</p> 
 <p>After a break of ATH, price is expected to move violently relative to capital inflows, driving up risk. That’s where most of the fast gains happen. <a href="https://t.co/HFR1nMrS6u" rel="nofollow" target="_blank">pic.twitter.com/HFR1nMrS6u</a></p> 
 <p>— Willy Woo (@woonomic) <a href="https://twitter.com/woonomic/status/1792786506744287693?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">May 21, 2024</a></p>
</blockquote> 
<p>BTC began a bullish rally during the past week, following the refreshing <a href="https://crypto.ro/en/news/bitcoin-above-63k-following-todays-cpi-report/">CPI report</a> on May 15 that showed an eased inflation of 3.4% for April.</p> 
<p>Also, new proposals regarding the Bitcoin network<a href="https://crypto.ro/en/news/bitcoin-devs-network-programmability-is-the-next-btc-rally-trigger/"> programmability</a> are seen by developers as potential new catalysts for the coin’s price.</p> 
<p>The FIT21 bill, aimed at setting legal rules for the digital asset industry, has been<a href="https://crypto.ro/en/news/bitcoin-etfs-surge-ahead-as-house-approves-fit21-bill/">&nbsp;passed</a> by the U.S. House of Representatives, and the move also triggered moves upwards for BTC and an overall positive sentiment for the crypto market.</p>

Bitcoin ETFs Recorded $252M Inflows, BTC Above $68k

Table of Contents

crypto.ro global

Other articles published on May 25, 2024

Analysts Predict These Coins to Surge Following Ethereum ETF Approval

EU Evaluates ChatGPT’s Compliance with Data Protection Laws

PEPE’s surge: Can holders expect large profits amid rising social buzz?

BlockDAG’s Explosive 800% Presale Surge Leaves Retik Finance’s CoinW & P2B Listings in the Dust –...

Intellectual Memecoin With a Vision: Golden Celestial Ratio (GCR) Announces Major Milestones and ...

This Ethereum Rival Could Skyrocket by Nearly 2x Over the Short to Medium-Term, Says Coin Bureau’...

Join our free newsletter for daily crypto updates!