Nate Geraci, ETF President Store, shared the top weekly inflows and outflows across the ETF space. Notably, IBIT ranked second behind the Vanguard S&P 500 ETF, which had weekly net inflows of $3,597 million. Geraci added:
“Now 14 straight days of inflows for iShares Bitcoin ETF… $4+ bil total. IBIT in top 10 of all ETFs by inflows this year (out of nearly 4,200 ETFs).”
BlackRock’s net inflows of $43,681 million since launch underscores the importance of major ETF issuers’ presence in the crypto ETF space.
BTC Price Outlook: Key Drivers
Several key catalysts will influence BTC’s near-term trajectory:
- Global trade risks: US-China trade developments could influence risk sentiment, including demand for BTC and the broader crypto market.
- Macroeconomic indicators: US economic data could dictate recession concerns and influence the Fed rate path.
- The Bitcoin Act: Progress on the Bitcoin Act could fuel demand.
- US BTC-spot ETF market flows: Spot ETF flow trends remain a critical barometer of market sentiment and price trends.
Key BTC Price Scenarios include:
- Bullish Scenario: Easing trade tensions, rising Fed rate cut bets, legislative progress on the Bitcoin Act, and continued ETF inflows may drive BTC toward $100,000.
- Bearish Scenario: Escalating trade tensions, a hawkish Fed, legislative gridlock, or ETF outflows could drag BTC toward $80,000.
For ongoing insights into macro trends, regulation, and ETF data, follow our analysis here.
Technical Analysis
Bitcoin Analysis
BTC trades above the 50-day and the 200-day Exponential Moving Averages (EMA), affirming bullish momentum.
- Upside Target: A break above the May 2 high of $97,997 could pave the way to $100,000. A decisive move past $100,000 may enable the bulls to target the all-time high of $109,312.
- Downside Risk: A drop below $95,000 could bring the $90,742 support level into play. Increasing selling pressure could expose the 50-day EMA and potentially the $86,263 support level.
The 14-day Relative Strength Index (RSI) at 66.43 suggests BTC could climb toward the record high of $109,312 before entering overbought territory (RSI > 70).
