Bitcoin exchange-traded funds (ETFs) recorded a net inflow of over $85 million on Wednesday, signaling that institutional interest in the asset class remains intact.
However, the figure marks a sharp pullback from the $378 million registered on June 3, highlighting a slowdown in investor appetite.
Bitcoin Traders Pull Back as ETF Inflows Decline
On Wednesday, net inflows into US-listed spot BTC ETFs totaled $86.92 million. Although this figure marked continued investor interest in these investment funds, it represented a 77% decline from the $378 million posted on June 3.
The slowdown is largely attributed to BTC’s price stagnation around the $105,000 mark since May 30. The coin’s inability to break past this critical resistance level has dampened investor sentiment and curtailed fresh capital inflows into US spot BTC ETFs.
Yesterday, BlackRock’s IBIT led the pack with the highest daily inflows, totaling $283.96 million, bringing its total historical net inflow to $48.78 billion.
On the other hand, Fidelity’s FBTC saw the largest net outflow among these ETFs, with $197.04 million exiting the fund.
BTC Stalls Below $105,000: Futures Dip While Options Traders Eye Upside
Currently trading at $104,913, BTC is down 1% over the past day, reflecting the prevailing sideways trend. At the same time, its futures open interest has declined slightly, suggesting reduced activity and a general pause in market participation.
At press time, the coin’s futures open interest is at $70.09 billion, down by a modest 1%. This slight drop suggests that some traders are reducing their positions amid the ongoing price stagnation around the $105,000 mark.
It signals that market participants are holding their hands from heavy trades and waiting for a break above the key psychological resistance or a further retracement.
Interestingly, despite BTC’s lackluster performance over the past day, the options market shows optimism. According to Deribit, the demand for call options—bets that the price will rise—is picking up, hinting that some traders are positioning for a potential upside breakout.
The dip in ETF inflows reflects short-term caution due to BTC’s recent muted price performance. The general market trend shows that investors are waiting for a catalyst to trigger a rally past $105,000 or a further decline from that price level.
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