Bitcoin ETF Inflows Surge

Bitcoin exchange-traded funds (ETFs) recorded inflows of $274.6 million on March 17, indicating a potential market reversal after five weeks of continuous outflows totaling nearly $5.4 billion. This marks the highest daily inflow since February 4.

Leading Funds

All five Bitcoin ETFs saw net inflows:
– Fidelity’s FBTC: $127.3 million
– ARKB: $88.5 million
– BlackRock’s IBIT: $42.3 million
– Grayscale’s Bitcoin Fund: $14.2 million
– Bitwise’s BITB: $2.3 million

No funds experienced outflows on this day.

Market Context

Despite the recent inflows, Bitcoin ETFs were affected by macroeconomic uncertainties, particularly due to tariffs introduced by Trump. Bitcoin’s price is currently around $82,883, down over 1% for the day. The 20-day exponential moving average stands at $85,559, serving as dynamic resistance. A consolidation around $82,000 – $83,000 could provide a base for future upward movement.

Long-term Outlook

While current bearish trends exist, some analysts suggest the $274.6 million inflow is indicative of renewed institutional confidence. Trader Coinvo speculates that Bitcoin’s recent price action suggests a bullish flag pattern, pointing toward a potential rally to $125,000 in the coming months, provided it reclaims key resistance levels.

Disclosure: This article is for educational purposes and does not constitute investment advice.