U.S. Bitcoin spot ETF has recorded net inflows for eight consecutive trading days, attracting a total of $2.8 billion in funds. As capital continues to flow back, Bitcoin once rose to $80,475 before falling back to around $79,520. While the price shows strength, the market has also begun to pay attention to the momentum behind the buying interest.
BlackRock IBIT accounts for approximately 72%
Farside Investors Data shows that in this round of continuous inflows, BlackRock's IBIT attracted $2.02 billion, accounting for about 72% of the total inflows. In contrast, Grayscale's GBTC continues to experience outflows, with a net outflow of $50.4 million alone on Wednesday.
Since the listing of spot Bitcoin ETF in the United States, there has always been a differentiation among products. On a cumulative basis, the total net inflow into the market was approximately 54.7 billion US dollars, of which IBIT saw a cumulative inflow of 63.1 billion US dollars, while GBTC experienced a cumulative outflow of 27.6 billion US dollars.
One-day inflows dropped to $232 million
Although the continuous net inflow continues, the daily capital volume has fallen from a high of $606.3 million on August 20th. Since then, the daily inflow has not exceeded $340 million again, with Wednesday recording $232.2 million, which is the lower level in this series of continuous inflows.
HashKey Senior Researcher Tim Sun stated that when judging the market, one should not overemphasize the role of single-day ETF data. According to his statistics, since 2024, although there has been a positive correlation between ETF capital flow and Bitcoin price, this correlation is not strong. It is more suitable as an indicator for confirming trends rather than as a leading signal for short-term trading.
The market is focusing on the $85,000 range.
Tim Sun believes that net inflows for more than five consecutive trading days are of greater concern, as this usually indicates that spot demand is continuing to recover. The current round of inflows is occurring after Bitcoin has experienced a adjustment in the range of $60,000 to $70,000, suggesting that the acceptance of the current price range by funds from ETF channels is increasing.
Algoz Technologies, the head of strategy and revenue, Stephen Wundke, stated that in the past week, the relevant trading volume has exceeded $90 billion, which is approximately twice the average level. Among this, Bitcoin accounted for nearly $40 billion. As the price has reached $80,000, there are both positions that were previously trapped in the market and demand to realize profits. The area around $85,000 may become the next resistance zone.
