Bitcoin ETF Registers Weekly Inflow of $2.5 Billion

The U.S. Spot Bitcoin ETF experiences significant weekly inflows of $2.5 billion, yet apprehensions about a potential BTC price adjustment arise just before the critical FOMC verdict.

Azcnews Breaking (1)

The US Bitcoin Spot ETF has seen a sharp increase in weekly inflows, with a significant $2.5 billion on March 15. This growth shows a revival of confidence from Wall Street investors towards the cryptocurrency market.

However, amid preparations for the Federal Open Market Committee (FOMC) meeting, concerns about a possible Bitcoin price correction have emerged due to recent market volatility. Bitcoin ETF inflows increased sharply, indicating interest from Wall Street.

Soaring Bitcoin ETF inflows signal Wall Street’s interest

Bitcoin ETF Inflow

According to data from Farside Investor, the US Spot Bitcoin ETF attracted significant inflows of $198.8 million on March 15, up significantly from $132.7 million the day before. Fidelity’s FBTC also recorded a spike, with inflows of $155.6 million on the same day, surpassing BlackRock’s IBIT of $13.7 million on March 14.

Notably, BlackRock’s IBIT fell to $139.8 million on Friday from $345.4 million the day before. In contrast, Grayscale’s GBTC outflow fell to $139.4 million on Friday, from $257.1 million on Thursday.

Meanwhile, this week saw a strong increase in capital flows, especially in the first three days, pushing total weekly capital flows to an impressive figure of 2.56 billion USD. Analysts attribute this surge to the recent Bitcoin price hitting new highs, attracting interest from leading institutions in the cryptocurrency.

Despite the positive momentum, investors remain cautious ahead of the FOMC’s important decision next week. Investors are waiting to see the Fed’s stance on the possibility of raising interest rates amid persistently high inflation.

Optimism and concern amid market volatility

Bitcoin Chart
Bitcoin Chart

The latest data on the Consumer Price Index (CPI) and Producer Price Index (PPI) have shown higher-than-expected inflation, putting pressure on investor sentiment and prompting them to approach the market. with a more cautious attitude when the market is unstable. In this situation, some market analysts predict that trading may be volatile ahead of the FOMC decision next week.

Related: Bitcoin Plummets to $67,000 in a Short Time Span

However, regardless of short-term fluctuations in the market, Bitcoin has shown strong resilience, surpassing the $70,000 mark within the past 24 hours. Analysts remain optimistic about the future performance of cryptocurrencies, especially buoyed by predictions surrounding the upcoming Bitcoin Halving.

Although history shows that Bitcoin prices often increase sharply after halving events, investors are still aware of the inherent risks. However, the general sentiment still retains optimism about Bitcoin’s long-term potential.

As of this writing, Bitcoin price has increased 1.84% to $69,042.30, while trading volume decreased 18.28% to $61.70 billion. Over the past 24 hours, BTC price ranged from a high of $70,557.61 to a low of $65,630.69.

5.0/5

(8 votes)
  1. Avatar of Favour
    Favour

    Hi this like good

  2. Avatar of Ігор
    Ігор

    I take byvae

  3. Avatar of Sekou Koulibaly
    Sekou Koulibaly

    C’est super projet

  4. Avatar of Joben Rana
    Joben Rana

    The U.S. Spot Bitcoin ETF experiences significant weekly inflows of $2.5 billion, yet apprehensions about a potential BTC price adjustment arise just before the critical FOMC verdict

  5. Avatar of Joseph Iwara
    Joseph Iwara

    I’m interested to be with you thanks 🙏

    • Avatar of Victor
      Victor

      Impressed

  6. Avatar of mohammedgijiwa4@gmail.com
    [email protected]

    Hi

  7. Avatar of
    Anonymous

    I love it

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest

Bingx Announces Listing Of Swarm Markets (smt)

Altcoin | Editor Choice

BingX Announces Listing of Swarm Markets (SMT)

BingX exchange announces the listing of Swarm Markets (SMT) - a DeFi platform licensed by the Germany's Federal Financial Supervisory Authority (BaFin).

Azcnews Nigeria Confirm

News | Editor Choice | Policy & Regulations

Central Bank of Nigeria Confirms Not Blocking Crypto Users

The Central Bank of Nigeria (CBN) has officially confirmed reports of their freezing of user accounts on platforms such as Bybit, OKX, Kucoin, and Binance as fraudulent.

Azcnews President Joe Biden Proposes Highest Tax Rate In History

News | Editor Choice | Policy & Regulations

President Joe Biden Proposes Highest Tax Rate in History

US President Joe Biden has just proposed increasing capital gains tax to 44.6%, marking the highest federal capital tax rate ever.

Bitcoin Dip 64500

News | Bitcoin | Editor Choice

Bitcoin Dips to $64,500, Yet Scarcity Remains High

Despite Bitcoin dipping slightly to $64,500 currently, most experts believe that prices will soon enter a bullish cycle.

What Is Gas Fee

Blockchain | Editor Choice | Research

What is Gas Fee? A Guide to Optimizing Gas Fees Effectively

In any blockchain environment, Gas fees play a crucial and nearly irreplaceable role. So, what is Gas fee? How can you optimize Gas fees? Let's find out!