TL;DR
- U.S. spot Bitcoin exchange-traded funds (ETFs) recorded net inflows of $158 million on Thursday, a turnaround from net outflows of $52 million the previous day.
- Bitcoin reached a price of $63,550, driven by positive macroeconomic signals.
- Ether ETFs also reported inflows but have accumulated negative flows since their launch.
Spot Bitcoin exchange-traded funds (ETFs) in the United States have shown a notable recovery, with net inflows of $158 million recorded on Thursday, marking a significant change after facing net outflows of $52 million the previous day.
This rebound suggests renewed interest in the digital asset, especially in a context where other market indicators are also on the rise.
According to Farside data, Ark Invest and 21Shares led the inflows with $81.07 million, followed by Fidelity with $49.88 million.
This increase in investments can be interpreted as a positive response to macroeconomic conditions that have favored risk assets in recent weeks.
Bitcoin’s price, which has risen by 2.3% in the last 24 hours, reached $63,550.
This growth is attributed to a series of factors, including interest rate cuts by the Federal Reserve and decisions by the Bank of Japan that have influenced market confidence.
Rachael Lucas, an analyst at BTCMarkets, highlighted that Bitcoin’s price movement has aligned with the behavior of the S&P 500 and Nasdaq, reflecting a broader “risk-on” sentiment in global markets.
However, retail participation remains limited, raising questions about the sustainability of this upward momentum in the long term.
Trends in the Cryptocurrency Market
Despite the enthusiasm surrounding Bitcoin ETFs, the performance of ether ETFs has been less optimistic.
While BlackRock’s ETHA fund reported inflows of $5.24 million, ether funds overall have accumulated negative flows since their launch in July, totaling losses of $610.35 million.
This situation underscores the inherent volatility of digital assets and the different dynamics that can influence investor interest.
Data reveals that the daily trading volume of Bitcoin funds reached $1.44 billion, and since their launch in January, these funds have accumulated net inflows of $17.60 billion.
This figure highlights not only Bitcoin’s recovery but also its growing acceptance in traditional financial markets.
With renewed interest, many investors are looking to capitalize on the opportunities that the cryptocurrency market has to offer, especially in an uncertain economic environment.
As Bitcoin continues to fluctuate near its recent high, the attention of analysts and investors will focus on the asset’s ability to maintain this trend.
Retail participation will be crucial in determining whether growth can be sustained over time, and while there is currently positive momentum, uncertainty remains.
