Key Points
- Bitcoin ETFs recorded over $48 million in inflows yesterday.
- Bitcoin is trading above $68k.
The latest reports coming from SoSoValue reveal that the total net inflows in Bitcoin ETFs were $48.7 million on May 30. This marked the 13th consecutive day of inflows in the crypto products.
Here are the inflows in Bitcoin ETFs from yesterday:
- BlackRock’s Bitcoin ETF, IBIT, recorded inflows of $2 million.
- Fidelity’s Bitcoin ETF, FBTC, recorded inflows of $119 million.
- Bitwise’s Bitcoin ETF, BITB, saw net inflows of $26 million.
- Invesco and Galaxy Digital, Bitcoin ETF, BTCO, saw net inflows of $2 million.
- Ark Invest and 21Shares’s Bitcoin ETF, ARKB saw $100 million in outflows.
The other Bitcoin ETFs did not record any inflows or outflows yesterday.
The total net asset value of the Bitcoin ETFs was $59 billion, according to the same data.
BlackRock’s Bitcoin ETF, IBIT remains the world’s largest BTC fund with $19.92 billion net assets as of May 30, according to SoSoValue data.
Bitcoin is trading above $68k
At the moment of writing this article, BTC is trading above the important level of $68,000. The coin is up by almost 1% today.
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On May 30, BTC surpassed $69,400 before a quick price correction. According to the latest predictions, the coin remains surrounded by optimism.
Analysts and crypto traders expect BTC to reach new ATHs soon with the only obstacle being the critical resistance that the coin is showing at $69,000.
This is an important mark that BTC achieved during the 2021 bull run and the level was tested again this year on March 5. Back then, the price surge was triggered by the US SEC approval of Bitcoin ETFs back in January 2024.
More analysts revealed that Bitcoin’s price action from the past days is normal. Willy Woo recently said that before the coin can break new ATHs, a consolidation below the previous ATH is necessary.
CryptoCon, a pseudonymous crypto analyst, described Bitcoin’s current low volatility around the previous highs as a healthy price action.
There are more factors that could send BTC’s price surging, including the recently discussed programmability on the network.
Today, the US expects important PCE data that could affect the price of BTC. The country is expecting macro data prints.
These involve jobless claims and the first revision of Q1 GDP, both being potential volatility catalysts for crypto and risk assets, especially if the results are not in line with economists’ expectations.
