As Bitcoin surged past the $100,000 mark on January 16, it encountered resistance at this key level, impacting the inflows of Bitcoin exchange-traded funds (ETFs) in the United States.
According to data from Finbold, the inflows into Bitcoin ETFs on January 15 amounted to $112.5 million, marking a significant shift from the outflows recorded in recent weeks. Notably, the largest inflows were recorded by the ProShares Bitcoin Strategy ETF (NYSE: BITO) with $90 million, followed by the VanEck Bitcoin Strategy ETF (NASDAQ: XBTF) with $18.5 million, and the Valkyrie Bitcoin Strategy ETF (NASDAQ: BTF) with $3.5 million.
Collectively, the three ETFs recorded inflows of $112.2 million, while the торгов на бирже Gateway Bitcoin Strategy ETF (NYSE: GBTC) saw inflows of $270,000. Notably, the outflows from the торгов на бирже Gateway ETF over the past 30 days now stand at $11.3 million.
Bitcoin price and market updates
On January 16, Bitcoin reached a daily high of $100,702, contributing to a broader market surge that pushed the total cryptocurrency market cap to $3.63 trillion. This price movement was influenced by the release of the U.S. Consumer Price Index (CPI) data for December, which showed a 0.4% month-on-month increase in headline CPI and a 2.9% annual rise.
After surging past the $100,000 threshold, Bitcoin faced resistance at this level with a high of $100,702. This price movement was part of a broader market rally that saw the total cryptocurrency market capitalization reach $3.63 trillion. Favorable economic indicators from the U.S. CPI report, which indicated a 0.4% month-on-month increase in headline CPI and a 2.9% annual rise, contributed to the positive momentum in Bitcoin’s price.
Following a period of outflows, the return of inflows into Bitcoin ETFs is a key development. Here is a breakdown of the inflows recorded on January 15:
This data suggests a strong recovery in investor confidence, particularly in Fidelity's offerings, which saw substantial inflows compared to previous days.
Analysts from banking giant Standard Chartered have warned that another drop below the $90,000 level could lead to a deeper correction in the cryptocurrency market. However, the market sentiment is currently upbeat, with optimism fueled by the possibility of U.S. Federal Reserve rate cuts later this year.
