Leading coin Bitcoin extended its rally yesterday, reaching a new all-time high of $111,968. The price performance triggered a wave of investor enthusiasm, driving more than $900 million in capital inflow into spot Bitcoin ETFs.
This marked the largest single-day inflow since April 22.
$934 Million Flood into Bitcoin ETFs in a Day
Yesterday, inflows into BTC-backed funds totaled $934.74 million, its highest single-day inflow since April 22. According to SosoValue, it also marked the seventh consecutive day of positive inflows, signaling a strong resurgence in institutional confidence this week.
Total Bitcoin Spot ETF Net Inflow. Source: SosoValue
BTC’s positive price performance this week has acted as a catalyst for the renewed interest in ETFs. The sustained inflows suggest that investors are not just responding to short-term momentum but are also gaining confidence in the asset’s long-term potential.
On Thursday, BlackRock’s ETF IBIT recorded the largest daily net inflow, totaling $877.18 million, bringing its total cumulative net inflows to $47.55 billion.
That day, Fidelity’s ETF FBTC witnessed the second-highest net inflow, attracting $48.66 million. The ETF’s total historical net inflows now stand at $11.88 billion.
BTC Pulls Back Slightly as Traders Lock In Gains
BTC currently trades at $110,752, noting a modest 1% decline over the past 24 hours. The slight pullback follows yesterday’s surge to a new all-time high and appears to be largely driven by a wave of profit-taking.
With the coin climbing to a new all-time high, many short-term traders seized the opportunity to lock in gains, prompting the ongoing price dip.
However, despite the brief pullback, futures market participants display strong resilience and bullish conviction. This is reflected in BTC’s consistently positive funding rate, indicating that traders are still willing to pay a premium to hold long positions. At press time, this is at 0.0105%.
BTC Funding Rate. Source: Coinglass
The sustained demand for leverage suggests that market participants expect further upside, reinforcing the theory that the recent dip is a healthy consolidation rather than a bearish shift in trend.
However, a sentiment check on the options market paints a more cautious picture. On-chain data shows a higher volume of put options than calls today, indicating that many investors are positioning for downside risk or engaging in hedging activity.
BTC Options Open Interest. Source: Deribit
These trends present a situation where short-term caution coexists with longer-term institutional optimism.
