U.S. spot Bitcoin ETFs recently saw one of the largest net positive flows year-to-date, and the market took notice.

According to on-chain analytics firm Glassnode, 7,869 BTC flowed into U.S.-based spot Bitcoin ETFs last Friday, marking the largest single-day net positive inflow

U.S. spot Bitcoin (BTC) ETFs recently saw one of the largest net positive flows year-to-date, and the market took notice.

According to on-chain analytics firm Glassnode, 7,869 BTC flowed into U.S.-based spot Bitcoin ETFs last Friday, marking the largest single-day net positive inflow since April 29. Glassnode also noted that the seven-day SMA is trending higher, signaling a sustained uptick in institutional demand, which remains bullish for Bitcoin.

Last Friday, US Spot #Bitcoin ETFs just recorded one of the largest net positive flows YTD - 7,869 $BTC - marking the biggest daily inflow since April 29. The 7-day SMA is also trending higher, signaling a sustained uptick in institutional demand:https://t.co/DVHnnJp9lu pic.twitter.com/bOlKyjBx1e

— Glassnode (@glassnode) May 21, 2024

The Bitcoin ETF inflows reflect the overall trend on the crypto market. According to the most recent CoinShares data, digital asset investment products saw inflows of $3.3 billion last week, bringing the six-week inflow streak to $10.5 billion.

Bitcoin led the pack with $2.9 billion in inflows, which is a fourth of total inflows in 2024. Meanwhile, other speculators saw recent price advances as an opportunity to short Bitcoin, garnering $12.7 million, the largest weekly inflow since December 2024.

Bitcoin price rebounds

Bitcoin recovered slightly on Monday under $110,000 after a weekend sell-off amid broader relief across global risk markets, with U.S. and European equity futures up more than 1%.

Over the weekend, Bitcoin fell from around $111,000 to as low as $108,600, with the resulting risk-off sentiment wiping out over $500 million in long liquidations across the crypto market, but the tone changed early Monday.

At press time, BTC was up 2.68% in the last 24 hours to $109,751 and up 7% weekly. If Bitcoin concludes today in the green, it will be the third straight day of gains since May 24.

Bitcoin hit a new record high near $112,000 on May 22 in a slower-than-usual climb fueled by increasing institutional ownership of the digital asset and corporate adoption.