Spot Bitcoin ETFs Clinch $1.8B Weekly Inflows, Will Bulls Retest $100k Price?

Crypto institutional investors ramp up inflows to spot Bitcoin ETFs following a swift recovery and expected price consolidation. The last seven days saw a net jump in total digital asset products alongside soaring trading volumes. As institutional sentiment spikes, traders are primed for a run above $100k, although certain macro indicators could hinder the upward drive. Spot BTC ETFs See Consecutive Weekly Inflows On-chain data shows spot Bitcoin ETFs added $1.8 billion, triggering bullish sentiments in the last seven days. This comes from renewed speculation for a massive price jump in May. Following the last dip and the recovery, which kicked off in the previous two weeks, traders began high-end accumulations seeking to break new positions. Traditional investors also caught the wave as they shifted through gears. According to SoSoValue data, net inflows topped $40.25 billion on May 2, marking the highest level since Feb 11. These products gained traction after the previous two months as the White House lowered tariff pressure. The previous week saw a much larger $3 billion inflow coming off a string of outflows. Currently, bull pressures are backed by new centralized institutions increasing their appetite for the asset class. Firms like Strategy and Metaplanet have intensified acquisitions in the same period. Last month, Cantor, Tether, SoftBank, and Bitfinex announced plans to roll out a Bitcoin acquisition firm. This influx of institutional demand has shaped trader confidence as they aim for new cycle peaks. Per pseudonymous Bitcoin enthusiast BlockChair, metrics are strengthening due to huge ETF inflows. “ Institutional adoption of Bitcoin continues to accelerate. With spot ETFs absorbing 6x the weekly mined supply and BlackRock dominating holdings, the supply squeeze narrative grows stronger. A 2% BTC allocation across traditional portfolios would indeed be transformative.” What’s Next For Bitcoin Price? For most digital asset commentators, the next point is another push through the $95k price to set the tone for a larger $100k level. After swings in the past few months, this psychological level remains important for Bitcoin holders. Bitcoin price dropped 22% from an all-time high above $108k, ushering in fresh outflows in the wider market. If the price reclaims $100k this month, bulls’ projections could be in play due to skyrocketing institutional inflows and on-chain metrics. Long-term holders are back in the green zone, spiking new retail investors.

Source: ZyCrypto