Key Points
- U.S Spot Bitcoin ETFs record largest single-day inflow in nearly a month, indicating renewed institutional interest.
- Rising Open Interest and bullish price action suggest traders are positioning for a potential breakout.
U.S Spot Bitcoin ETFs recently registered their biggest single-day inflow in almost a month, adding 7,869 BTC. This increase is part of a wider wave of investment momentum returning to the digital asset space, indicating that institutional players may be preparing for a renewed push into Bitcoin.
Bitcoin ETFs Witness Significant Inflows
Last Friday, U.S Spot Bitcoin ETFs experienced one of their largest single-day net inflows of the year, adding 7,869 BTC to their holdings. This was the largest daily inflow since April 29. The 7-day SMA of ETF inflows has also been trending upwards, highlighting a sustained build-up rather than a single event. As confidence in Bitcoin continues to grow, especially among institutional players, these inflows could bring further bullish momentum in the market.
Traders Anticipate Further Upside
Adding to the bullish narrative, Open Interest across all exchanges has also been trending sharply higher. For instance, according to CryptoQuant, Open Interest rose from around $31 billion in late April to over $37 billion by May 26. The simultaneous rise in Bitcoin’s price and Open Interest suggests that capital inflows have not been passive. Instead, they are actively fueling directional bets, potentially setting the stage for further upside volatility.
At the time of writing, Bitcoin was trading at around $109,616, consolidating after a sharp move north. Its daily RSI stood at 67.48, just below the overbought threshold of 70. This suggests strong bullish momentum, with the cryptocurrency not showing signs of exhaustion yet. Bitcoin’s price action revealed a healthy series of higher highs and higher lows, with recent candles forming tight-bodied ranges, a possible continuation pattern. This sideways drift near the highs could be a bullish flag, often preceding further breakout moves. If ETF inflows continue, this technical structure may provide the boost for BTC to test new highs above $112,000 in the short term.
