Bitcoin Don Dash As Spot ETFs Dem Net $10B; ETH ETFs Get 9-Day Inflow
Bitcoin jump 8.5% dis week reach around $47,200 as institutional demand dey cause record money enter spot Bitcoin ETFs. BlackRock IBIT carry lead with $297 million on Tuesday, push total money wey enter Bitcoin ETFs pass $10 billion since January. Ether ETFs don run nine days straight win, collect $62 million and make combined AUM pass $5 billion. Open interest for BTC futures reach record high, show say bullish momentum dey strong. Traders dey move money from equities go crypto because market dey volatile. Ongoing ETF adoption and possible approval of spot Bitcoin ETFs fit keep the gains, but sudden market wahala and regulatory changes need make we dey watch dem well.
Bullish
Di combined surge wey happen for Bitcoin price, record ETF inflows, and di unprecedented open interest for Bitcoin futures dey show say short-term bullish momentum strong. Institutional demand, wey show say dem don put over $10 billion net inside Bitcoin ETFs and over $5 billion inside Ether ETFs, dey show say confidence for regulated crypto products dey grow. Dis trend fit hold di gains as ETF adoption dey expand and possible spot-Bitcoin ETF approvals dey near. But traders suppose dey alert for any volatility spikes and regulatory changes wey fit bring intermittent risks, even if market overall still dey positive.