Bitcoin ETF Inflow Explodes by $555M: Is the Bull Market Back?

Yesterday was a significant day for the Bitcoin ETF market, with an impressive inflow of $555.90 million. On the same day, Bitcoin’s price jumped from $62,890 to $66,082, marking a notable increase of nearly 5.07%. Was this surge just a coincidence? Many analysts believe otherwise.

Record-Breaking Inflows

Data from the Bitcoin Spot ETF Net Inflow shows that the market experienced an influx of $555.90 million yesterday. A post on X by Spot On Chain states that this inflow on October 14 is the largest since June 5, 2024, and the eighth largest since Bitcoin ETFs began.

Bitcoin Price Analysis

In the last 24 hours, the Bitcoin market has seen a 2.3% increase. The day started with Bitcoin priced around $62,874.37, and by the end of trading, it had risen nearly 5.07% to $66,082.47. Currently, the market is trading at $65,351.86, slightly lower than yesterday’s closing price.

The market seems to be experiencing a slight downturn, with a small decline of 0.3% in the last hour.

Bitcoin Institutional Holdings

There are currently 11 Bitcoin Spot ETFs, with the iShares Bitcoin Trust (IBIT), Grayscale Bitcoin Trust (GBTC), Fidelity Wise Origin Bitcoin Fund (FBTC), ARK 21Shares Bitcoin ETF (ARKB), and Bitwise Bitcoin ETF (BITB) leading in assets under management. Among these, at least three—FBTC, ARKB, and BITB—have reported an increase in their Bitcoin holdings over the past 24 hours.

ARKB leads with a 5.07% rise, while BITB and FBTC reported increases of 3.84% and 2.00%, respectively.

Over the last week, nearly all Bitcoin Spot ETFs have seen an increase in their holdings, except for GBTC and BTC. In contrast to this trend, both the Grayscale Bitcoin Trust and Grayscale Bitcoin Mini Trust reported declines of -0.40% and -1.05% in their holdings. Notably, the Invesco Galaxy Bitcoin ETF achieved the highest increase in Bitcoin holdings over the week, with a 6.03% rise.

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All in All – It’s a Bullish Outlook!

The rising Bitcoin holdings among ETFs reflect growing investor confidence in the future of the Bitcoin market. An analysis of the four-hour chart indicates that the second candlestick of the day dropped the price significantly lower than the last candlestick of the previous day. Currently, the third candlestick is attempting to push the price upward.

It will be essential to watch whether it can recover the losses from the previous candlestick.

Could this be the beginning of a new Bitcoin bull run? We’re crossing our fingers.