Bitcoin ETFs see continued inflows, supporting BTC price despite geopolitical tensions. Is this the calm before a surge to $130K?
Bitcoin's been a rollercoaster, but lately, it's been more like a steady climb up the Cyclone at Coney Island. Spot Bitcoin ETFs are raking in serious cash, influencing BTC's price. Let's dive into what's happening.
ETF Inflows: The Fuel for Bitcoin's Engine
US-based spot Bitcoin ETFs are the darlings of the investment world right now. They pulled in a whopping $388.3 million on Wednesday, marking the eighth straight day of net inflows. That's a cool $2.4 billion total! BlackRock's IBIT is leading the charge with $278.9 million, followed by Fidelity's FBTC with $104.4 million. Even Bitwise's BITB is getting in on the action.
Bitcoin Price Holds Steady Amidst Global Chaos
Despite all the drama between Israel and Iran, Bitcoin's price is hanging tough around $105,000. Santiment, the crypto analytics whizzes, noted that this resilience is thanks to consistent ETF inflows and a lack of major military escalation. Sound familiar? Bitcoin's played this game before, like during the Russia-Ukraine conflict in 2022.
The Grayscale Curveball
Now, here's where it gets interesting. Grayscale's GBTC is bucking the trend with outflows of $16.4 million. Investors seem to be ditching the higher fees for the newer, shinier, low-fee ETFs. Since April 17, spot Bitcoin ETFs have attracted over $11.2 billion, but Grayscale's seen $23.2 billion walk out the door.
Is $130K the Next Stop?
Market analysts are buzzing about Bitcoin's potential. One analyst, Cas Abbé, sees BTC hitting $130,000–$135,000 by Q3 2025. He's looking at the On-Balance Volume (OBV), which is rising even as the price consolidates. This suggests that buyers are quietly accumulating BTC. Think of it as building a secret stash of pizza before the Super Bowl.
Bull Flag Alert!
Bitcoin also seems to be forming a bull flag pattern, a classic sign that it's gearing up for another run. If this pattern plays out, we could see Bitcoin hitting that $130,000 target. Even Galaxy Digital's Mike Novogratz is on board, pointing to strong institutional flows and a weaker dollar as tailwinds.
The Macro Wildcard
Of course, it's not all sunshine and rainbows. Geopolitical tensions and trade wars could still throw a wrench in the works. Santiment warns that these events can trigger
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