Bitcoin Spot ETFs in the U.S. Record $84.2 Million Inflows on March 24

By Cheryl L.

On March 25, monitoring data from Trader T (@thepfund) ,a cryptocurrency market observer and data analyst active on X (formerly Twitter) revealed that U.S. Bitcoin spot ETFs saw a net inflow of $84.2 million yesterday. Among the major players:

• BlackRock's $IBIT recorded an inflow of $18.09 million.

• Fidelity's $FBTC dominated with an inflow of $82.85 million.

• Bitwise's $BITB received $19.23 million in inflows.

• Ark Invest's $ARKB, however, experienced an outflow of $40.97 million.

This marks the sixth consecutive day of net inflows for Bitcoin spot ETFs, reversing a previous trend of outflows since February. Concurrently, the Fear and Greed Index, a key indicator of market sentiment, improved from 30% to the neutral value of 45%, as Coinglass monitored. This suggests a noticeable easing in risk aversion, potentially signaling the early stages of liquidity returning to the crypto market.

Bitcoin has recently benefited from several positive developments:

• The S&P 500 index broke above its 200-day moving average (200 DMA) on March 24, hinting at a long-term bullish trend. This movement also provided a favorable signal for Bitcoin (BTC).

• According to report from Cointelegraph, Bitcoin demonstrated robust performance over the past week, achieving its best weekly gain in over two months with a 4.24% increase. The cryptocurrency peaked at $88,804 during intraday trading.

• Bitcoin successfully reclaimed the 200-day exponential moving average (EMA) on its daily chart, reinforcing its bullish momentum.

On March 24, Michael Saylor, founder of Strategy, disclosed that the company had purchased an additional 6,911 BTC at an average price of $84,529 per Bitcoin, spending approximately $584.1 million in total.

Strategy is not alone in its bullish stance. Japanese publicly-listed company Metaplanet announced the issuance of 2 billion yen in zero-interest bonds, with all proceeds allocated to purchasing Bitcoin.

As of the time of writing, Bitcoin is trading at $86,519.