Bitcoin ETFs See $330.67 Million Inflows, Ending Outflow Streak
- Inflows Rebound: Bitcoin ETFs recorded $330.67 million in net inflows on February 6, ending a three-day outflow streak that saw $1.25 billion drained, indicating a significant improvement in market sentiment.
- Key Contributors: Leading the rebound, BlackRock's IBIT attracted $231.62 million, while Ark & 21Shares' ARKB and Bitwise's BITB brought in $43.25 million and $28.70 million respectively, reflecting a resurgence of confidence among institutional investors in Bitcoin.
- Total Assets Under Management Surge: The total net assets for Bitcoin ETFs rose from $80.76 billion on February 5 to approximately $105 billion, with cumulative net inflows reaching $54.65 billion, showcasing sustained investor interest and trust in cryptocurrencies.
- Ethereum ETFs Struggle: Despite the positive inflows for Bitcoin, Ethereum ETFs experienced $21.37 million in net outflows on the same day, primarily due to $45.44 million in redemptions from BlackRock's ETHA, indicating relatively weaker market confidence in Ethereum.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 36469.337 | 48234.669 | 61205.087 | 72970.419 | 85940.837 | 97706.169 | 110676.587 |
| Fibonacci | 48234.669 | 57683.725 | 63521.362 | 72970.419 | 82419.475 | 88257.112 | 97706.169 |
About BTC
About the author
