Bitcoin spot ETFs listed in the United States saw a notable surge at the start of this week, with $532.21 million in net inflows on Monday. Buoyed by Bitcoin climbing back above the $80,000 mark and growing optimism from a ceasefire process between the US and Iran, investors’ risk appetite increased sharply.
Leading ETF inflows
BlackRock’s iShares Bitcoin Trust stood out with the highest single-day inflow, adding $335.49 million to its portfolio. Fidelity’s Wise Origin Bitcoin Fund also garnered attention with $184.57 million in new investments. Among the other funds, only Morgan Stanley’s Bitcoin ETF saw a positive movement, recording a $12.16 million inflow, while the rest did not attract additional investments.
These strong inflows kept the momentum positive for three consecutive trading days. Notably, Friday recorded total inflows of $629.73 million, with a modest $14.76 million increase on Thursday. This rally followed a period of net outflows, amounting to $490.63 million withdrawn over the preceding three sessions.
BTC breaches psychological barrier
The recent wave of inflows coincided with Bitcoin surpassing the psychological threshold of $80,000 for the first time in three months. The leading cryptocurrency is currently trading near $81,029, representing a 1.5% gain over the past 24 hours. Data from CryptoAppsy indicates that this uptick has sparked renewed interest among investors.
Analysts point out that renewed risk-taking appetite, spurred by the ceasefire, lies behind this active period. Bitunix’s analysis suggests that clearing out short positions clustered in the $79,500 to $81,000 range was instrumental in reclaiming the $80,000 level. The $77,000 to $78,000 area is now seen as the new core support for leveraged positions.
“Overall, Bitcoin’s pricing is no longer solely driven by crypto market sentiment; macro developments and liquidity structure have now come to the fore,” Bitunix analysts evaluated.
Macro climate and crypto sector
Meanwhile, experts are watching the US military’s new operation in the Strait of Hormuz, which involves 15,000 troops. Iran has warned that this intervention could undermine the ceasefire agreement. Such military and political developments could bring increased volatility to cryptocurrency markets, observers note.
Key macroeconomic data, such as this week’s US Nonfarm Payrolls report and upcoming Federal Reserve commentary, are also poised to shape market direction. Analysts highlight that if inflation expectations remain elevated, the Fed might maintain higher rates for longer, putting pressure on crypto assets. Conversely, weaker economic figures could prompt renewed flows into tech and digital assets.
Spot Ether ETFs have similarly drawn attention, with $61.29 million in net inflows on Monday. Friday saw even higher momentum, bringing weekly inflows above $101.18 million and raising cumulative investments in these funds past $12 billion. After brief net outflows in April, Ether ETFs have begun May on a positive note.
