Spot Bitcoin ETFs began the week strongly with one other main day, recording an influx of $520 million on Monday. The huge influx got here on the again of bulls going tremendous bullish on bitcoin, pushing BTC worth to rally previous $57,000. CoinGape earlier reported {that a} provide shock earlier than Bitcoin halving will lead to BTC surpassing $55K very quickly.
Spot Bitcoin ETFs Records $520 Million Net Inflow
The web influx for spot Bitcoin exchange-traded funds (ETF) was $520 million on February 26, in response to information by Farside. Almost all 9 spot Bitcoin ETFs recorded huge influx and Grayscale’s GBTC witnessed one other drop in BTC outflow, indicating robust bullish sentiment amongst retail and institutional buyers.
BlackRock (IBIT) recorded a file influx of $111.8 million, with the online influx hitting $6 billion. BlackRock Bitcoin ETF now has asset holdings reaching almost $7 billion. However, the Fidelity Bitcoin ETF was the star of the day.
Fidelity (FBTC) and Ark 21Shares (ARKB) Bitcoin ETF noticed $243.3 million and $130.6 million, respectively. Bitwise (BITB), VanEck (HODL), and others additionally noticed substantial inflows amid bullish sentiment.
Moreover, GBTC noticed a $22.4 million outflow, a rise from Friday’s 51.8 million outflow, however it’s aligned with final week’s vary. Bloomberg ETF analyst James Seyffart famous that that is the file low outflow for the fund. The file quantity of $3.84 billion and web inflows ripped by means of $55k to past $57k in lower than half-hour.
Also Read: Ethereum (ETH) Price Up 5% As Layer-2 DeFi TVL Hits $30 Billion
BTC Price Shoots Past $57,000
The FOMO is at its peak as Crypto Fear and Greed Index once more hit 79 (Extreme Greed) on Monday from 72 on Sunday. It’s a pivotal second as merchants’ curiosity in BTC is extraordinarily excessive. Experts predicted BTC price to hit $60,000 earlier than bitcoin halving.
The rally got here after MicroStrategy introduced the acquisition of roughly 3,000 extra tokens this month. With this newest buy, the corporate’s Bitcoin holdings now attain 193,000.
BTC price skyrocketed its solution to a market worth as excessive as $57,250, reaching inside 19.9% of the $68.6K excessive established 27 months in the past. The worth is at present buying and selling at $56,325, up over 10% within the final 24 hours. The 24-hour high and low are $50,931 and $56,728, respectively. Furthermore, the buying and selling quantity has elevated by an enormous 230% within the final 24 hours, indicating an increase in curiosity amongst merchants.
Read More: BTC Price Shoots to $57,000 As Nine Bitcoin ETFs Set New Records
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