Bitcoin

when

Time

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Yesterday, May 17, Bitcoin ETFs recorded total net inflows of almost $222 million, as BTC trades close to $67k.</li> 
 <li>Forbes reveals an ETF “perfect storm” could be heading towards Bitcoin.</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>, the total net inflows in Bitcoin ETFs were almost $222 million, yesterday, May 17. Here are the most important inflows in Bitcoin ETFs for the day:</p> 
<ul> 
 <li>Grayscale’s Bitcoin ETF, GBTC recorded $32 million in inflows the other day.</li> 
 <li>BlackRocks’s Bitcoin ETF, IBIT, saw a net inflow of $38 million.</li> 
 <li>Fidelity’s Bitcoin ETF, FBTC, total net inflow was over $99 million.</li> 
 <li>Bitwise’s Bitcoin ETF, BITB, saw net inflows of $21 million.</li> 
</ul> 
<p>Bitcoin ETFs recorded five consecutive days with significant inflows this week.</p> 
<p>Regarding BTC’s price today, at the moment of writing this article, the coin is trading close to $67k, up by 1% in the past 24 hours, according to <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="nofollow noopener" target="_blank">CoinMarketCap</a>.</p> 
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<p>The other day, BTC reached the important mark of $67,000 and the coin traded above $67,400.</p> 
<p>The price trigger for BTC this week was the release of the <a href="https://crypto.ro/en/news/bitcoin-above-63k-following-todays-cpi-report/">CPI report</a> which showed an easing inflation of 3.4% which was in line with economists’ expectations this month. BTC’s price went up 3% on May 15 when the inflation data came out, and the coin traded above $63,000.</p> 
<h2 id="inflation-flip-could-unleash-a-bitcoin-price-boom">Inflation flip could unleash a Bitcoin price boom</h2> 
<p><a href="https://www.forbes.com/sites/digital-assets/2024/05/16/still-early-sudden-6-trillion-fed-inflation-flip-predicted-to-unleash-a--bitcoin-ethereum-xrp-and-crypto-price-boom/" rel="nofollow noopener" target="_blank">Forbes</a> recently wrote a piece, revealing that the Fed’s inflation flip could unleash a Bitcoin and crypto price boom.</p> 
<p>They cited Tom Lee, Fundstrat Global Advisors managing partner and head of research who told CNBC that Bitcoin is still early in an upcycle. He also mentioned that the idea that BTC can reach $150k this year is still on the table.</p> 
<p>Lee also brought up the CPI report, saying that it does help that the Fed is reiterating its view on inflation and it’s more “dovish” than where the market is. He highlighted that this is the main reason for which markets are recovering.</p> 
<p>He continued and said that capital spending is picking up and there is $6 trillion in cash on the sidelines, after people have shown caution for over two years now.</p> 
<p>The overall sentiment around<a href="https://crypto.ro/en/news/mining-centralization-poses-risks-to-bitcoin-yet-optimism-remains/"> Bitcoin</a> and the crypto markets remains positive these days and this is reflected in BTC’s current prices.</p>

Bitcoin ETFs Recorded $222M Inflows, BTC At $67k

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