The spot Bitcoin ETF market has shown robust performance recently. Data indicates that as of last Friday, weekly net inflows reached $767 million. Tuesday saw the highest single-day inflow at $250.92 million, and Friday concluded this rally with an inflow of $180.33 million. Currently, the total net assets of all spot Bitcoin ETFs have climbed to $91.83 billion, with cumulative net inflows reaching a substantial $56.14 billion.
Concurrently, spot Ethereum ETFs have also demonstrated impressive results. In the four days leading up to last Friday, Ethereum ETFs collectively attracted $212.14 million in inflows, successfully reversing the trend of outflows seen in early March. Thursday's trading session was particularly noteworthy, with a net inflow of $115.85 million. The cumulative net inflows for US spot Ethereum ETFs have now reached $11.79 billion. It is worth noting that when both Bitcoin and Ethereum ETFs experience net inflows simultaneously, it is typically considered a significant market signal.
Amidst escalating geopolitical tensions, high oil prices, and potential risks in the Strait of Hormuz, global macroeconomic risk sentiment has declined. Past experience suggests that such environments often prompt capital to flow towards safe-haven assets like gold. However, current market dynamics present an unusual scenario.
Data reveals that despite outflows from gold ETFs, with major gold funds like SPDR Gold Shares experiencing withdrawals, BlackRock's iShares Bitcoin Trust has continued to attract steady inflows. This indicates that for an increasing number of institutional investors, Bitcoin is gradually becoming a comparable safe-haven asset option to gold in an environment of rising uncertainty.
Despite strong ETF inflows, the Bitcoin price has not seen a significant surge in the short term, currently trading around $70,686, down 1.49% on the day. The market's focus is on whether the price movement can follow the ETF inflow trend ahead of the upcoming FOMC meeting.
As institutional investors seek alternative safe-haven assets, their demand is steadily growing. The inflow of over $767 million into Bitcoin ETFs in the past five days fully demonstrates the market's increased confidence in the asset amidst heightened volatility.
Sustained ETF inflows are a crucial factor supporting long-term demand for Bitcoin. Analysts point out that if Bitcoin can break through the key resistance levels between $71,000 and $73,500, the next strong upward momentum may follow. Based on institutional adoption and the sustainability of ETF inflows, analysts predict that Bitcoin could trade in the $120,000 to $170,000 range by 2026, with some forecasts even placing the price range between $70,000 and $250,000 depending on market conditions.