Accumulate

United

Bitcoin

Rekt

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Last week, Bitcoin investment products witnessed over $1 billion inflows, taking the year-to-date total to roughly $14.6 billion.</li> 
 <li>Increased exposure to spot Bitcoin ETFs by institutions and long-term investors is largely driving this investment surge.</li> 
</ul>  
<p>Investment inflows into <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/">Bitcoin</a> (BTC) surpassed $1 billion in the past week, pushing the total inflows for the year to nearly $14.6 billion. This surge is primarily due to institutional and long-term investors expanding their exposure to spot Bitcoin ETFs. </p> 
<h2 id="record-inflows-into-crypto-investment-products">Record Inflows into Crypto Investment Products</h2> 
<p>In the week that ended on May 24, Bitcoin exchange-traded products (ETPs) recorded $1.01 billion in inflows. The total inflows for all cryptocurrency investment products hit $1.05 billion, setting a new all-time high of $14.9 billion for 2024 to date. </p> 
<p>The “Digital Asset Fund Flows Weekly” report, published on May 28, showed a 28% increase in weekly trading volumes, reaching $13.6 billion. The total assets managed by crypto funds now stand at $98.43 billion. </p> 
<h2 id="bitcoin-and-ethereum-etfs-driving-market">Bitcoin and Ethereum ETFs Driving Market</h2> 
<p>The recent buying surge and price increases are mainly fueled by the market’s anticipation of spot <a href="https://crypto.ro/en/cryptocurrencies/ethereum/">Ethereum</a> ETFs approval in the United States. Despite Bitcoin’s underperformance compared to Ether post-approval, the continued inflows into spot Bitcoin ETFs are seen as significant. </p> 
<p>According to data from Farside Investors, institutions invested nearly $1.057 billion in spot Bitcoin ETFs between May 20 and May 24. Meanwhile, outflows from Grayscale’s IBIT decreased significantly to just $20.5 million for the week. </p> 
<h2 id="bitcoin-price-remains-range-bound">Bitcoin Price Remains Range-Bound</h2> 
<p>Analyst Daan Crypto Trades noted that Bitcoin’s price action over the last several months has been within a wide range, stretching from $59,095 to the March 14 all-time high above $73,800. </p> 
<p>Meanwhile, Rekt Capital observed that Bitcoin’s recent recovery above $70,000 formed “another local top.” He predicts Bitcoin will likely continue consolidating between $60,000 and $70,000. </p> 
<h2 id="institutional-and-long-term-investors-accumulate-bitcoin">Institutional and Long-Term Investors Accumulate Bitcoin</h2> 
<p>Institutional and long-term investors are taking advantage of Bitcoin’s low volatility to increase their holdings. Glassnode’s “The Week On-chain” report, published on May 28, indicated that long-term investors are re-accumulating coins for the first time since December 2023. </p> 
<p>Glassnode analysts found that the aggregate supply from long-term holders (LTHs) has dropped by 12,000 BTC to 85,800 BTC/month. This is a significant decrease from a peak of 519,000 BTC/month in late March, signaling a “cooling-off period” and a return to accumulation patterns. </p> 
<p>Trader and analyst Ali Martinez also noted increased buying activity by whales in recent days, further supporting the accumulation trend. </p>

Surge in Long-Term Bitcoin Accumulation Triggers $1B Investment Influx

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