Bitcoin Dips, But Don’t Panic: ETFs See Three Days Of Bullish Inflow

Name	Symbol	Market	Market Cap ($)	Algorithm
Binance Coin	BNBUSD	Crypto	85,641,776,755	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Binance Coin

BNBUSD

Crypto

85,641,776,755

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-32.48	-5.62%	545.10	545.04	545.10

Price Change

Price Change %

Current Price

Bid Price

Offer

-32.48

-5.62%

545.10

545.04

545.10

High Price	Low Price	Open Price	Prev. Close	52 Week Range
578.77	537.18	576.84	577.58	210.00 - 683.83

High Price

Low Price

Open Price

Prev. Close

52 Week Range

578.77

537.18

576.84

577.58

210.00 - 683.83

Exchange	Last Trade	Size	Trade Price	Currency
BINA	09:55:29	0.092000	545.10	USD

Exchange

Last Trade

Size

Trade Price

Currency

BINA

09:55:29

0.092000

545.10

USD

Price x Volume	Volume	Base Symbol	Related Pairs
10,481,631.55	19,385.42	BNB	BNBEUR	BNBGBP	BNBBTC

Price x Volume

Volume

Base Symbol

Related Pairs

10,481,631.55

19,385.42

Bitcoin Dips, But Don’t Panic: ETFs See Three Days Of Bullish Inflow

06/04/2024 1:30pm

NEWSBTC

The recent approval of Bitcoin exchange-traded funds (ETFs) by the SEC sent jitters through the financial world. Initial concerns about fading demand seem unfounded as Bitcoin ETFs continue to shatter trading volume records. This is further bolstered by three consecutive sessions of net inflows into these investment vehicles. Related Reading: Solana Primed For Takeoff? Expert Analysis Points To Buying Opportunity Bitcoin ETF Inflows Signal Long-Term Investor Appetite A recent dip in ETF activity sparked fears that the initial excitement might be short-lived. However, those fears have been quelled by a resurgence in inflows. According to data from SoSoValue, yesterday saw a net inflow of $203 million into Bitcoin spot ETFs, marking the third straight day of positive inflow. This sustained green streak suggests that investors remain interested in gaining exposure to the top crypto through ETFs, potentially anticipating a price surge due to the upcoming Bitcoin halving – a pre-programmed code update that cuts production in half, historically leading to price increases. BlackRock’s Bitcoin ETF Leads The Pack BlackRock, the world’s largest asset manager, has emerged as a frontrunner in the crypto ETF space. Their iShares Bitcoin Trust (IBIT) recorded the highest net inflow on a single day, exceeding $144 million. BTC market cap currently at $1.3 trillion. Chart: TradingView.com This impressive figure has pushed IBIT’s total net inflow over the past two weeks to over $14 billion. BlackRock’s commitment to Bitcoin ETFs is further underscored by their recent decision to include prominent Wall Street institutions like Goldman Sachs, Citigroup, Citadel Securities, and UBS as Authorized Participants (APs) in their spot Bitcoin ETF prospectus. These additions position these banking giants as first-time participants in the ETF market, joining established players like JPMorgan and Jane Street. The inclusion of such heavyweights is seen as a significant vote of confidence in the future of Bitcoin ETFs and a potential catalyst for further mainstream adoption. Volatility On The Horizon For ETFs While the recent surge in demand paints a bullish picture for Bitcoin ETFs, experts warn that volatility may be lurking on the horizon. CryptoQuant, a cryptocurrency analysis platform, points to signals in the futures market that suggest potential price swings in the near future. Related Reading: Trouble Ahead? Binance Coin Futures Market Under Pressure With Negative Funding Rates A consistently high premium often signifies strong institutional buying pressure, particularly in light of the recent inflows witnessed in US Bitcoin ETFs. This increased institutional activity can contribute to price fluctuations, creating opportunities for both gains and losses. Despite the potential for short-term volatility, the overall outlook for Bitcoin ETFs remains positive. The sustained demand, coupled with the backing of major financial institutions like BlackRock, suggests that these investment vehicles are poised to play a significant role in bridging the gap between traditional finance and the cryptocurrency world. Featured image from Vegavid Technology, chart from TradingView

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BNBUSD Binance Coin