Weekly Inflows Dip, But Bitcoin Bulls Are Not Backing Down | ETF News
Despite slower ETF inflows last week, bullish sentiment in the Bitcoin market remains intact. A surge in futures open interest and a call-heavy options market point to potential price gains.
Last week, US-listed spot Bitcoin exchange-traded funds (ETFs) recorded net inflows exceeding $600 million.
While this marked a continuation of positive capital movement into digital asset products, it also had the lowest weekly inflow figure in the past month, signaling investor caution or profit-taking at higher levels.
ETF Inflows Slow as Price Consolidation Cools Investor Appetite
Between May 12 and May 16, inflows into spot BTC ETFs totaled $603.74 million. Although this was a net positive in terms of inflow into these funds, last week’s figure was the lowest weekly inflow in the past month. This highlights a more cautious but sustained capital movement into the market.
Total Bitcoin Spot ETF Net Inflow. Source:
SosoValue
The slowdown in ETF inflows can be linked to BTC price consolidation during the five-day period under review. Throughout that period, BTC traded sideways, facing resistance at around $104,971 while finding consistent support at $102,711.
This lack of clear movement likely led some investors to be more cautious, resulting in reduced capital inflows into BTC ETFs last week.
BTC Eyes Fresh Highs
Still, bullish momentum persists in the BTC market. The king coin briefly surged to a three-month high of $107,108 during Monday’s early Asian trading session. While it has since corrected to trade at $104,956, the bullish bias toward the coin remains significant.
BTC’s price uptick comes alongside a rise in its futures open interest. This stands at $70.03 billion at press time, climbing 7% over the past day.
BTC Futures Open Interest. Source:
Coinglass
Open interest refers to the total number of outstanding derivative contracts, such as futures or options, that have not been settled. When open interest rises alongside price, it typically signals that new money is entering the market. This supports the strength of BTC’s ongoing trend and could trigger a sustained price uptick in the near term.
Moreover, options market data further supports this optimistic outlook. Today, the demand for call options has outpaced puts, pointing to a growing demand for bullish positioning.
BTC Options Open Interest. Source:
Deribit
Nevertheless, with derivatives activity surging and BTC reclaiming higher price levels, the coin could reach new highs in the short term.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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