Bitcoin ETF

Bitcoin

Spot

The Bitcoin price jumped about 3% today, as a significant inflow into the U.S. Spot Bitcoin ETF boosted market confidence. This notable influx, continuing over the last few days, reached nearly $900 million on Tuesday, June 4, marking the second-highest single-day inflow since the ETF’s launch on January 10 this year. 
Meanwhile, the investors’ confidence is further bolstered by a recent bullish forecast from 10X Research. 
<h2 id="u-s-spot-bitcoin-etf-inflow-sees-second-highest-inflow">U.S. Spot Bitcoin ETF Inflow Sees Second Highest Inflow</h2> 
The <a rel="nofollow" href="https://farside.co.uk/?p=997" target="_blank">U.S. Bitcoin ETF</a> recorded an inflow of $886.6 million yesterday, according to Farside Investors. Notably, this substantial investment reflects the growing institutional interest in Bitcoin. 
Meanwhile, among the top contributors were Fidelity ETF FBTC with a $379 million influx, and <a href="https://coingape.com/blackrock-spot-bitcoin-etf-hits-20b-in-aum-impact-on-btc-price/" target="_blank" rel="noopener">BlackRock ETF IBIT</a> with $274 million. Besides, Grayscale ETF GBTC also noted an inflow of $28.2 million. Notably, in just the first two days of the week, the sector has seen an impressive $1 billion in inflows. 
Nate Geraci, the President of ETFStore lauded the significant influx, into the investment instrument. In a recent X post, Geraci said that close to $1 billion inflow after five months of launch signals a bullish sentiment. In addition, Bloomberg analyst James Seyffart said over the next few weeks, investors will increase their focus on <a href="https://coingape.com/bitcoin-etf-inflows-propel-blackrock-fidelity-invesco-into-top-10-etf-issuers-list/" target="_blank" rel="noopener">Bitcoin ETF</a>. 
Also Read: <a href="https://coingape.com/fed-rate-cut-expectations-push-bitcoin-btc-past-71000-new-ath-soon/" target="_blank" rel="noopener">Fed Rate Cut Expectations Push Bitcoin (BTC) Past $71,000, New ATH Soon?</a> 
<h2 id="bullish-predictions-sparks-optimism">Bullish Predictions Sparks Optimism</h2> 
Amid the notable influx into the investors’ instrument, 10X Research has further fueled discussions. They have provided several recent bullish reports on Bitcoin’s future trajectory, while predicting, that <a href="https://coingape.com/glossary/bitcoin/" target="_blank" rel="noopener">Bitcoin</a> will hit a new all-time high shortly. 
Meanwhile, the bullish prediction comes due to several factors that are driving the current rally, according to the research firm. They pointed to inflation as a major driver, suggesting that Bitcoin’s role as a hedge is becoming increasingly relevant. 
In line with these predictions, Bitcoin mining stocks are also on the rise. <a href="https://coingape.com/just-in-tether-secures-100m-bitdeer-shares-holds-option-for-50m-more/" target="_blank" rel="noopener">Bitdeer</a> saw a 13% rally following a $100 million private funding round from Tether, with the potential for an additional $50 million. Bitfarms is also gaining attention as a prime takeover candidate in the sector. 
The growing interest and substantial inflows into Bitcoin ETFs signal robust institutional confidence in the <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener">cryptocurrency</a>. With the U.S. Spot Bitcoin ETF sector attracting significant investments, and various tokens experiencing substantial gains, the market sentiment remains highly positive. 
<a href="https://coingape.com/price/bitcoin/" target="_blank" rel="noopener">Bitcoin price</a> was up 3.02% and exchanged hands at $71,047.38, while its trading volume soared 22.74% to $36.84 billion. In addition, the Bitcoin Futures Open Interest rose 5.36% to $37.75 billion or 529.64K BTC, CoinGlass data showed. The recent surge in the Bitcoin price, along with the positive OI signals a bullish sentiment for the flagship crypto. 
Also Read: <a href="https://coingape.com/hacked-japanese-crypto-exchange-dmm-bitcoin-to-buy-320-million-worth-of-bitcoins/" target="_blank" rel="noopener">Hacked Japanese Crypto Exchange DMM Bitcoin Plans Massive BTC Purchase</a> 
The post <a href="https://coingape.com/bitcoin-etf-sees-second-highest-inflow-as-btc-flashes-buy-signal/">Bitcoin ETF Sees Record Inflow Amid BTC Flashing Buy Signal</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Bitcoin ETF Sees Record Inflow Amid BTC Flashing Buy Signal

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