Bitcoin ETFs Attract Record $204M Daily Net Inflow

Bitcoin and Ethereum exchange-traded funds (ETFs) have seen significant inflows in recent days, with Bitcoin ETFs recording a net influx of $204.36 million over the past 24 hours. This brings the seven-day total to $222.5 million. In contrast, Ethereum ETFs saw smaller daily and weekly gains, at +$67.17 million and +$112.12 million respectively.

The rising demand for Bitcoin ETFs comes as the price of BTC approaches its upper Bollinger resistance level of $66,464.01. Technical indicators suggest that a healthy retracement to the EMA50 support level of $64,060.25 may be imminent before further continuation. This would not affect the broader bullish structure of the market, which remains intact due to the MACD golden cross at 593.06.

The strong inflows into Bitcoin ETFs are likely to have a positive impact on the price of BTC in the short term, according to prediction models. The Ethereum ETF net flows are also tracking closely behind.