Bitcoin Spot ETF Records Consecutive Weeks Of Inflows As Investor Confidence Grows

Ethereum exchange-traded funds (ETF) have been the talk of the town – and rightly so – after the United States Securities and Exchange Commission (SEC) approved the listing of the investment products during the week. Meanwhile, the Bitcoin spot ETF market continued its resurgence on one side, marked by a second consecutive week of positive inflows. This streak of positive inflows represents a complete shift from previous weeks when investment activity was dangerously low. However, this recent turnaround reflects a rise in investor confidence over the past two weeks. Bitcoin Spot ETF: $252 Million In Net Inflows In One Day On Friday, May 24, the US Bitcoin spot ETF market saw another day of positive inflows, marking the 10th consecutive day of significant investment into these funds. According to data from SoSoValue, the market recorded a total net inflow of approximately $252 million to close the week. Related Reading: Lido (LDO) Takes The Lead With 13% Surge Post Ethereum ETF Approval Key Levels To Watch Breaking this down, BlackRock amassed a substantial percentage of the total daily investment, with the IBIT ETF posting an inflow of $182 million. Grayscale Bitcoin Trust (GBTC), on the other hand, did not attract any capital on Friday, ending the week with zero daily outflows and inflow.  Other ETF issuers, such as Fidelity, Bitwise, and ARK Investment, also witnessed impressive inflows on Friday. Most notably, Fidelitys FBTC came second to BlackRocks fund after attracting about $43.7 million on the last day of the week. More importantly, this positive inflow day means that the Bitcoin spot ETF market has amassed significant investment every day for the second week in a row. And after the close of Fridays trading session, the net inflow in the past week stood at an impressive $1.06 billion. This sustained positive trend in terms of capital inflow suggests that investor confidence in Bitcoin ETFs might be back at an all-time high. The last time there was a consistent positive capital inflow into these products, the Bitcoin price rose to a new all-time high. With Ethereum spot ETFs on the brink of trading in the US, crypto exchange-trade products seem to be in fashion at the moment. And they might just be the catalyst that the crypto market – particularly Bitcoin – needs to resume what is left of the bull cycle. Bitcoin Price At A Glance As of this writing, Bitcoin is valued at $68,868, reflecting a 2.5% price increase in the last 24 hours. According to data from CoinGecko, the premier cryptocurrency is up by 3% on the weekly timeframe. Related Reading: Bitcoin Bulls Gain Breathing Room As Long-Term Holder Activity Eases Glassnode Featured image from iStock, chart from TradingView

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Philippines begins Peso-backed stablecoin sandbox testing

The test aims to evaluate the PHPC stablecoins real-world performance, its impact on the local fiat ecosystem, and its potential uses, including payments, trading and DeFi applications.

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Bitcoin Sees Largest ETF Inflows Since January, Becomes 5th Largest Asset In The World

Bitcoin has spent the majority of the past 24 hours on a notable rally that saw it price peak at an intraday high of $94,320. This rally marks an interesting change from the tight consolidation range between $80,000 and $85,000 that had defined Bitcoins trajectory through much of April.  Behind this breakout lies a significant uptick in institutional activity through Spot Bitcoin ETFs, which recorded their highest daily inflows since January. Interestingly, this inflow surge has helped push Bitcoin into the top five largest assets globally, surpassing Alphabet, Silver, and Amazon in market capitalization. Spot Bitcoin ETFs Sees Largest Inflows Since January According to data from SoSoValue, US-based Spot Bitcoin ETFs raked in $936.43 million in net inflows on Tuesday, April 22 alone, marking their best single-day performance since January 17 when it registered $1.08 billion. Wednesday, April 23 also witnessed similar performance, registering inflows of $916.91 million. Related Reading: Bitcoin Price Crash: Crypto Analyst Reveals What Would Reject Current Bearish Hypothesis BlackRocks iShares Bitcoin Trust (IBIT) led the way with a staggering $643.16 million in inflows, followed closely by Ark & 21 Shares’ ARKB with $129.5 million. Furthermore, Spot Bitcoin ETFs are now on four days of consecutive inflows of $100 million or more. The last time such happened was in the last week of January. These inflows into Spot Bitcoin ETFs follow a weeks-long dry spell in ETF activity, which saw many traders question the sustainability of institutional interest. Nonetheless, the timing of these inflows couldnt be more impactful. Bitcoins price surged in tandem with recent ETF activity, showing the the strong effect these ETFs have come to have on the spot price of Bitcoin. BTC Surpasses Amazon And Google To Become Fifth Largest Asset Worldwide The ETF inflows lit the spark and the resulting market reaction pushed Bitcoins rise up the global rankings. According to data from CompaniesMarketCap, Bitcoins total market value climbed to over $1.87 trillion as it crossed over $94,000 for the first time in eight weeks. Related Reading: Crypto Analyst Warns Of Volume Drop That Could Trigger 60% Bitcoin Price Crash To $49,000 This interesting move allowed it to overtake both Google (Alphabet) and Amazon in market cap rankings, especially considering these stock prices have been on a notable decline in a 30-day timeframe. This development positions BTC not only as a leading cryptocurrency but also as a top-tier macroeconomic asset, competing on the global stage with traditional tech and commodity giants. As it stands, Bitcoin is now outperforming the NASDAQ 100, and analysts are pointing to signs of decoupling from traditional indices. Now that Bitcoin is trading above $90,000 again, the next focus is on where it goes from here. The bullish trajectory would be on the $100,000 price level, and whether BTC can break above this level before the end of April. That said, the $94,000 region is now shaping up to act as an early resistance band, and short-term profit-taking could cause pullbacks that might liquidate buy orders. Featured image from Pixabay, chart from Tradingview.com

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Dogecoin Price To Enter Phase E After Testing Last Point Of Support, Heres The Target

Crypto analyst Trader Tardigrade has provided an update on the Dogecoin price action. He revealed that the foremost meme coin is set to enter Phase E next, during which it could rally to new highs.  Dogecoin Price To Enter Phase E Next After Testing Last Point Of Support In an X post, Trader Tardigrade stated that the Dogecoin price will enter Phase E and then the Mark-Up phase after the move of Sign of Strength (SOS) and Last Point of Support (LPS). This came as he also revealed that DOGE has entered Phase D in the Wyckoff Accumulation. The analyst also noted that the meme coin completed the TEST in Phase C and the Last Point of Support in Phase D.  Related Reading: Crypto Analyst Warns Dogecoin Price Correction Was A False Breakout, Calls 30% Crash His accompanying chart showed that the LPS in Phase D for the Dogecoin price is around $0.174, while the SOS will be a successful reclaim and hold above $0.18. This will usher DOGE into Phase E, where it is projected to rally to as high as $2.1, marking a new all-time high (ATH) for the foremost meme coin.  In another X post, Trader Tardigrade stated that the Dogecoin price could be forming an inverse Head and Shoulders pattern on the 4-hour chart, providing a bullish outlook for the foremost meme coin. His accompanying chart showed that Dogecoin could rally to $0.183 on this rebound, which is the SOS for the meme coin in this Phase D.  It is worth mentioning that crypto analyst Kingpin Crypto also provided a bullish outlook for the Dogecoin price, predicting that it could bounce from the current support and rally above the psychological $0.2 price level. The analyst asserted that DOGEs chart is one of the best right now in terms of price, which is at a clear level of higher timeframe support. DOGE Gearing Up For A Big Week In an X post, crypto analyst Ali Martinez stated that the Dogecoin price is gearing up for a big week. He remarked that a close above $0.17 could open the door to $0.21 or even $0.29 if it holds the key support level at $0.13. However, the analyst recently revealed that DOGE whales are choosing to remain on the sidelines for now, which could be bearish for the meme coin.  Related Reading: Dogecoin Price Notches Higher Lows Amid Market Downturn, Why A 270% Surge Is Possible The Dogecoin price performance will also depend on the Bitcoin price and whether the flagship crypto can sustain bullish momentum. Self-acclaimed Dogecoin lead analyst on X, Kevin Capital, opined there is no need to be overly bullish until Bitcoin surges above $89,000.  At the time of writing, the Dogecoin price is trading at around $0.16, down over 3% in the last 24 hours, according to data from CoinMarketCap. Featured image from Shutterstock, chart from Tradingview.com

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Bitcoin Spot ETFs See $197 Million Net Inflows As Q1 Closes Details

By their lofty standards, the US Bitcoin spot ETFs produced a moderately positive performance last week, attracting about $200 million in netflows. This development comes amid an impressive market comeback over the past two weeks following the heavy withdrawals seen in early March. Related Reading: Bitcoin Price Slips Under $84,000 Key Support Levels To Watch Bitcoin Spot ETFs: 10 Straight Days Of Positive Netflows According to data from ETF tracking site SoSoValue, the Bitcoin ETFs registered total net outflows of $93.47 million on Friday, moving its aggregate netflows for the past week to $196.7 million. Prior to Fridays negative input, these funds recorded a positive flow for 10 consecutive trading days suggesting a high amount of favorable market interest. This development indicates a return of bullish sentiments among Bitcoin institutional investors following the bearish mood seen in February and early March which featured massive asset withdrawals. In a similar fashion, Blackrocks IBIT accounted for the majority of the inflows from last week by attracting $171.95 million in investments, followed by Fidelitys FBTC with $86.84 million. VanEcks HODL was the only other ETF with a positive inflow of $5 million in new deposits. On the other hand, a large percentage of withdrawals came from Ark Invests ARKB which recorded $40.97 million in net outflows. Invescos BTCO, WisdomTrees BTCW, and Bitwises BITB also experienced moderate levels of redemptions ranging between $6.95 million – $10.22 million. Meanwhile, Grayscales GBTC, BTC, and Franklin Templetons EZBC registered no significant flow. Related Reading: Bitcoin RSI Targets Daily Retest That Triggered 2024 Price Rally, What Happened Last Time Bitcoin ETFs Close Out Q1 – What Next? With Q2 of 2025 fast approaching, the Bitcoin spot ETFs conclude the first quarter of the year on an uncertain note. The year began with strong bullish momentum, driving $5.25 billion in net inflows during January. However, this was followed by a sharp reversal, with cumulative net liquidations of $4.25 billion across February and March. Notably, the resurgence of positive inflows seen in the latter half of March is a sign of renewed market interest and strong market confidence. Furthermore, the crypto-friendly stance being adopted by the Donald Trump administration could encourage institutional investment in the long run. However, macroeconomic factors including potential Fed rate hikes, and ongoing US tariff changes may force investors to move out of high-risk assets or other associated investments. In addition, the uncertainty over the current Bitcoin bull run also draws serious concerns. At the time of writing, the flagship crypto asset trades at $83,359 after a 0.77% decline in the past day. Meanwhile, daily trading volume is down by 49.43% and is valued at $16.88 billion. Featured image from StormGain, chart from Tradingview

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Bitcoin price hits new record high in Argentina

Argentina’s peso has crashed by 99% versus the U.S. dollar since the beginning of the currency crisis in 2018.

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Oasis Gaming Welcomes Metasports as Co-Owner to Strengthen Philippine Esports Communities

The partnership also seeks to enhance Oasis' business foundation by co-building strategies to navigate the turbulent market in esports.

The post Oasis Gaming Welcomes Metasports as Co-Owner to Strengthen Philippine Esports Communities appeared first on BitPinas.

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OpenDAO Price Prediction as SOS Sees 65% Intra-day Reversal

Despite a lack of obvious fundamental catalysts, OpenDAO’s SOS token has seen extraordinary volatility over the last few days. The token, which OpenDAO calls “the [...]

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Tier One Entertainment Launches Alliance Incubator Program for Web3 Thought Leaders

Tier One will leverage its expertise in content creator management to bring attention and traffic to web3 through its Alliance web3 incubator.

The post Tier One Entertainment Launches Alliance Incubator Program for Web3 Thought Leaders appeared first on BitPinas.

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Tether Floats Mexican Pesos-based Stablecoin in Latin America

Tether Operations Limited, the blockchain startup behind the USDT stablecoin, has announced its entry into Latin America with the launch of the Mexican Pesos backed MXN? stablecoin. (Read More)

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PayPal, Visa, Amazon Named as Core Members to Help Bank of England Work on Developing UK’s CBDC

The Bank of England has announced the members of the technology and engagement forums, which will help the central bank coordinate exploratory work on a potential UK’s CBDC. (Read More)

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Bitcoin ETFs Hot 7-Day Streak Ends, Record $55 Million In Net Outflows

The spot Bitcoin ETFs (exchange-traded funds) in the United States have recorded their first net outflow day in the past seven days. This negative single-day performance ended what was another impressive weekly outing for the crypto investment products. Bitcoin ETFs Shine While Ethereum ETFs Continue To Struggle After a strong performance throughout the month of  October, the US-based spot Bitcoin ETFs didn’t register a perfect start to November. According to data from SoSoValue, the BTC exchange-traded funds posted a net outflow of $54.9 million on Friday, November 1. Breaking down the data, Fidelitys FBTC surprisingly accounted for almost half ($25.64 million) of the outflow recorded on Friday. This figure was followed closely by Ark & 21Shares ARKBs $24.13 million, the second consecutive outflow day for the fund. Related Reading: Bitcoin ETFs Crucial To Sustain Current Buying Pressure Details Grayscales GBTC, which usually contributes to the outflow days for the Bitcoin ETFs, recorded only $5.51 million in capital outflow. Other funds that recorded an outflow on Friday included Bitwises BITB, VanEcks HODL, and Valkyries BRRR, with outflows of $5.64 million, $5.86 million, and $1.66 million, respectively. Interestingly, BlackRocks exchange-traded fund IBIT didnt see any inflow or outflow on Friday. Prior to this zero-inflow day, the trillion-dollar asset managers fund had seen capital influx for the last 14 consecutive days. In fact, IBIT posted its highest inflow day in the past week, with an influx of $872 million on Wednesday, October 30. While the Bitcoin ETFs posted outflows to end the previous week, the negative single-day action barely made an impact on the weekly performance. According to data from SoSoValue, the US BTC funds registered a $2.22 billion cumulative weekly inflow in the past week, the highest value since March. While the Bitcoin exchange-traded funds have been producing remarkable performance in recent days, their Ethereum counterparts have not exactly impressed. After witnessing an almost $11 million outflow on Friday, the weekly capital influx was slashed to approximately $13 million for the spot Ethereum ETFs. Bitcoin Price Overview Investors will be hoping that the Bitcoin ETFs will resume inflows when trading opens on Monday, considering its recent positive impact on price. The price of BTC almost touched its all-time high of $73,737 on Tuesday and Wednesday when the ETFs recorded their highest inflows in more than five months. Related Reading: BNB Token Burn: $1 Billion Of Tokens Sent To Black Hole Address Impact On Price? As of this writing, the price of BTC sits just above $68,000, reflecting a 2% dip in the past 24 hours. According to data from CoinGecko, the premier cryptocurrency is up by more than 3% in the last seven days. Featured image created by Dall.e, chart from TradingView

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Spot Ethereum ETFs End 6-Day Drought With $90 Million Inflow Will Ether Price Respond?

Investor interest in the spot Ethereum ETFs (exchange-traded funds) appeared to have waned after failing to register a net inflow day for six consecutive days. However, the cryptocurrency products ended the week on a high with a substantial capital influx on Friday, November 22. This capital inflow represents a shift in investor sentiment, which has not particularly been positive over the past few days. Nonetheless, the market would be hoping that this newly found momentum would persist and perhaps also trigger some bullish action for the ETH price. Can Ethereum ETFs Ensure ETHs Price Recovery? According to the latest data from SoSoValue, the United States-based spot Ethereum ETFs witnessed a net inflow of $91.21 million on Friday. This positive single-day performance represents the first net inflow for the exchange-traded funds since November 13. Related Reading: This Analyst Correctly Predicted The Bitcoin Price Jump To $99,000, But His Prediction Is Not Done Market data shows that a significant portion of the inflows came from BlackRocks iShares Ethereum Trust (with the ticker ETHA). The crypto product registered around $99.7 million in total daily inflows to close the previous week. Fidelitys Ethereum Fund (with the ticker FETH) and Bitwises Ether ETF (ETHW) were the only other products to post capital inflows on Friday, recording $5.76 million and $4.96 million, respectively. Grayscales ETHE and ETH registered outflows of over $18.5 million and $621,000, respectively. As earlier mentioned, Fridays performance represents a return to positive inflows for the Ethereum ETFs. Prior to this showing, the crypto products posted six consecutive outflow days, draining a cumulative total of $225.6 million within this period. The price of ETH, which initially seemed to have found its footing, also slowed down during this period of the Ethereum ETFs outflow. This trend highlights the significant influence of the exchange-traded funds on price action both for the worlds largest cryptocurrency Bitcoin and Ethereum. With the fortunes of the US-based Ethereum ETFs seemingly turning around, the price of ETH has also taken an upward swing in the last couple of days. Investors will be hoping that the positive momentum for the Ethereum ETFs continues and translates into the altcoins price. Ethereum Price At A Glance As of this writing, the price of ETH stands at around $3,423, reflecting a 2.1% increase in the past day. The altcoin is up by more than 9% on the weekly timeframe, according to data from CoinGecko. Related Reading: Bitcoin Price Mirrors 2017 Pattern, Is The Top Only 2 Weeks Away After Hitting $100,000? Featured image created by Dall-E, chart from TradingView

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Spot Bitcoin ETFs hit $1.7B weekly inflows, marking six-week streak

The latest inflows bring spot Bitcoin ETFs total net assets to $95.4 billion, or 5.27% of Bitcoins $1.8 trillion market capitalization.

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US Spot Bitcoin ETFs Open Q4 2024 With $300 Million Weekly Outflows Details

Spot Bitcoin ETFs launched the fourth quarter of 2024 on a turbulent note ending the week with a net negative outflow of over $300 million. This development occurred in tandem with Bitcoins bearish start to October in which it declined over 6% in the first five days of the month. Related Reading: US Spot Bitcoin ETFs Become Second-Largest Holder Of BTC Behind Satoshi Spot Bitcoin ETFs Negative Outflows End Three-Week Positive Streak According to data from market tracking platform SoSoValue, the US-based spot Bitcoin ETFs registered a cumulative net outflow of $301.54 million in the first week of Q4 2024, ending a three-week run of positive returns. Following a net inflow of $61.30 million on September 30, these investment funds quickly transitioned into a bearish state as Bitcoins value fell sharply amid rising geopolitical tensions in the Middle East. This led to three consecutive days of cumulative negative outflows totaling $388.42 million. On Friday, October 4, the spot BTC ETFs returned to a positive trajectory recording gains of $25.59 million but proved largely insufficient in overturning the earlier deficit.  However, despite this negative weekly performance, the spot Bitcoin ETFs are still primed to attract massive levels of investments in this quarter in line with the lofty price expectations for Bitcoin. Notably, these investment funds have produced a speculative performance following their launch in January. According to data shared by analyst Quinten Francois, the spot BTC ETFs occupy the top four positions of successful ETF launches in 2024.  With a Bitcoin bull run on the horizon, these exchange-traded products are certain to receive more interest from institutional investors in the coming weeks.   Currently, the spot BTC ETFs boast a cumulative total net inflow of $18.50 billion with total net assets valued at $57.73 billion thus representing 4.68% of the Bitcoin circulating supply. BlackRocks IBIT maintains market dominance with total investments of $22.91 billion while Grayscales GBTC and Fidelitys FBTC account for significant market holdings with net assets of $13.75 billion and $11.09 billion, respectively. Related Reading: Ethereum ICO Participant Offloads 6,000 ETH As Bearish Sentiment Intensifies Spot Ethereum ETFs Resume Weekly Negative Flows Alongside the Spot Bitcoin ETFs, the US spot Ethereum ETFs also registered net weekly outflows of $30.69 million in the first week of Q4 2024, representing a return to a negative streak stretching from August 16.  In contrast to their Bitcoin counterparts, the ETH spot ETFs have had a challenging debut with total net outflows of 553.66 million. However, they account for 2.28% of the Ethereum market supply with $6.6 billion in total net assets. At the time of writing, Bitcoin trades at $62,062, with Ethereum valued at $2,414. Both assets report negligible price movements in the past day. Featured image from Global Finance Magazine, chart from Tradingview

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