Bitcoin Meanders Around $82,000 As ETFs Net $275 Million In Inflows

by Khyathi Dalal Benzinga Staff Writer

Zinger Key Points

Bitcoin is stuck in the low $80,000s despite fresh ETF inflows on Monday.
With important events around the corner, traders are predicting a big green candle soon for Bitcoin.
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A sudden spike in U.S. spot Bitcoin BTC/USD ETF inflows has caused only a brief rally, with prices reversing in early Tuesday trading.

What Happened: U.S. spot Bitcoin ETFs recorded their highest daily net inflows in six weeks on Monday, totaling $274.6 million.

This follows five consecutive weeks of net outflows amounting to $5.4 billion, according to SoSoValue data.

Analysts attribute the shift to Bitcoin's price stabilization, institutional rebalancing and demand for lower-fee ETFs, The Block reported.

Fidelity's FBTC led inflows with $127.3 million, followed by Ark/21Shares' ARKB with $88.5 million and BlackRock's IBIT with $42.3 million.

Bitcoin is down 1.7% to $82,000 in Tuesday morning trading.

Analysts anticipate continued fluctuations, with institutional rebalancing potentially driving further inflows or outflows.

As the quarter-end approaches, investors are closely monitoring positioning shifts.

Also Read: Peter Schiff Slams Bitcoin ETFs, Calls Selling Gold For BTC ‘Worst-Timed Trade In History’

What's Next: Crypto trader Moustache said he is watching this week closely as the FOMC meeting and other key events unfold.

He predicts a significant price increase, with Bitcoin's consolidation below the daily SMA200 (simple moving average) line indicating bullish momentum.

#Bitcoin

I'm really looking forward to this week.

Very important events + FOMC and $BTC consolidating below the daily SMA200 line (which is actually bullish).

I wouldn't be surprised if we see a big green candle soon. pic.twitter.com/6EDP3otxX0
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