In a world where chaos reigns supreme, the US spot Bitcoin exchange-traded funds (ETFs) have decided to play the role of the unlikely hero, recording a staggering $412.2 million in net inflows on June 16. This remarkable feat extends their streak to six days, pushing total cumulative inflows to a jaw-dropping $46.04 billion. Who knew Bitcoin could be so popular amidst geopolitical drama? 🎭
The six-day saga of inflows began on June 9, absorbing over $1.8 billion in capital, as if the money were a hungry beast, devouring everything in its path. And all this while the world watches the renewed conflict between Iran and Israel unfold like a poorly scripted soap opera. 📺
Daily contributions were nothing short of theatrical: $386.27 million on June 9, followed by a dramatic $431.12 million surge on June 10. A slight dip mid-week had everyone gasping, but fear not! Inflows rebounded sharply with $322.60 million on June 13, culminating in the grand finale of $412.20 million on June 16. Bravo! 👏
Total net assets across all US Bitcoin (BTC) ETFs have reached a staggering $132.50 billion, now representing 6.13% of Bitcoin’s total market cap. Trading volume remained robust, with $3.12 billion exchanged on June 16 alone. It seems the market is alive and kicking, despite the chaos outside! 💃
BlackRock’s IBIT: The Star of the Show
Leading the charge is none other than BlackRock’s iShares Bitcoin Trust (IBIT), which recorded a net inflow of $266.60 million on June 16, accumulating a total of $50.03 billion. Talk about a money magnet! 💸
Fidelity’s FBTC followed with a respectable $82.96 million, while Grayscale’s GBTC lagged behind like a sad puppy with just $12.84 million, still showing a net outflow of $23.23 billion since inception. Poor thing! 🐶
“Despite rising tensions between Israel and Iran, institutions are looking past short-term volatility and focusing on long-term positioning,” said Vincent Liu, chief investment officer of the Taiwan-based company Kronos Research, as if he were reading from a script. He added:
“Steady Bitcoin ETF inflows reflect growing trust in BTC’s resilience, accessibility, and role as a hedge in a shifting macro environment.”
Bitcoin Dips, But the Market Holds Strong
Then came the unexpected Israeli strike on Iran on June 13, triggering a market sell-off that pulled Bitcoin down over 7%, ending the week in negative territory. Oh, the drama! 🎭
Under the hood, metrics showed signs of capitulation, as Bitfinex analysts reported on June 16. They noted that Net Taker Volume hit a multi-week low at –$197 million, indicating aggressive selling. It’s like watching a tragic play unfold! 🎭
“This selling, however, combined with a spike in liquidations, resembles past capitulation-style setups that often mark local bottoms,” the analysts said, as if they were fortune tellers peering into a crystal ball.
They added that if Bitcoin manages to hold the $102,000–$103,000 zone, it may suggest that selling pressure is being absorbed, and the market could be primed for recovery. Fingers crossed! 🤞
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2025-06-17 14:02