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U.S. spot Bitcoin ETFs recently saw one of the largest net positive flows year-to-date, and the market took notice.
According to on-chain analytics firm Glassnode, 7,869 BTC flowed into U.S.-based spot Bitcoin ETFs last Friday, marking the largest single-day net positive inflow since April 29. Glassnode also noted that the seven-day SMA is trending higher, signaling a sustained uptick in institutional demand, which remains bullish for Bitcoin.
The Bitcoin ETF inflows reflect the overall trend on the crypto market. According to the most recent CoinShares data, digital asset investment products saw inflows of $3.3 billion last week, bringing the six-week inflow streak to $10.5 billion.
Bitcoin led the pack with $2.9 billion in inflows, accounting for a fourth of total inflows in 2024. Meanwhile, other speculators saw recent price advances as an opportunity to short Bitcoin, garnering $12.7 million, the largest weekly inflow since December 2024.
Bitcoin price rebounds
Bitcoin recovered slightly under $110,000 on Monday after a weekend sell-off amid broader relief across global risk markets, with U.S. and European equity futures up more than 1%.
Over the weekend, Bitcoin fell from around $111,000 to as low as $108,600, with the resulting risk-off sentiment wiping out over $500 million in long liquidations across the crypto market, but the tone changed early Monday.
At press time, BTC was up 2.68% in the last 24 hours to $109,751 and up 7% weekly. If Bitcoin concludes today in the green, it will be the third straight day of gains since May 24.
Bitcoin hit a new record high near $112,000 on May 22 in a slower-than-usual climb fueled by increasing institutional ownership of the digital asset and corporate adoption.
Vladislav Sopov
U.Today Editorial Team