Bitcoin ETFs See $786 Million Weekly Inflow Led by BlackRock
- Surge in Institutional Demand: US-listed spot Bitcoin ETFs recorded their highest weekly inflow in nearly two months, attracting over $786 million last week, nearly matching the peak seen in late February, indicating a resurgence of investor interest after a quieter market period.
- BlackRock Leads Inflows: The inflow surge was primarily driven by BlackRock's iShares Bitcoin Trust, which pulled in approximately $612 million during the week, showcasing the firm's ability to attract substantial allocations since its launch at the beginning of 2024, supported by its $10 trillion in assets under management.
- Morgan Stanley's New Fund: Morgan Stanley's launch of the MSBT fund attracted about $46 million within its first three days of trading, signaling early interest; however, it remains significantly smaller than BlackRock's offerings, yet its extensive distribution network may provide traditional investors with more access to Bitcoin exposure.
- Bitcoin Price Rally: Throughout the week, Bitcoin's price surged from around $67,000 to over $70,000, closing at approximately $73,411, marking a gain of about 9%, which coincided with improved fund flows and highlighted a renewed risk appetite among market participants, signaling a potential market recovery after previous sell-offs.
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 Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 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 crypto.
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 | 57495.005 | 62053.333 | 66921.345 | 71479.673 | 76347.685 | 80906.013 | 85774.025 |
| Fibonacci | 62053.333 | 65654.195 | 67878.811 | 71479.673 | 75080.535 | 77305.151 | 80906.013 |
About BTC
About the author
