Bitcoin Drops 1.10% to $107,911 as ETF Inflows Surge 450%

Bitcoin is currently trading at $107,911, marking a 1.10% decrease over the past 24 hours. As the Memorial Day weekend approaches, market participants are closely monitoring whether reduced liquidity will drive significant price movements, potentially reaching $115,000.

Spot Bitcoin ETFs experienced substantial inflows between May 17 and May 23, totaling $2.75 billion, which is a 4.5 times increase from the previous week. This surge in inflows indicates renewed institutional confidence in Bitcoin. Notably, BlackRock’s iShares Bitcoin Trust (IBIT) continued its streak of inflows for the eighth consecutive day.

Data from Coinglass reveals heightened activity on spot exchanges. On May 23, Binance led with $19.87 million in net inflows over a one-hour window, while other exchanges such as Bybit, OKX, Kraken, and Bitstamp also saw smaller inflows. This data aligns with Bitcoin’s recent rally to $111,970 on May 22, suggesting a renewed interest from both institutional investors and exchanges. The Crypto Fear & Greed Index has cooled from 78 (“Extreme Greed”) to 66 (“Greed”), reflecting a slight pullback in market sentiment.

Technical analysis on the 2-hour chart shows Bitcoin testing supports as it is below the 50-period EMA at $108,315. The price is pressing against the ascending trendline at $107,000, with key Fibonacci retracement levels from the $102,190 low to the $111,958 high at $107,074. If Bitcoin falls below $107,000, it could drop to $105,905 or $104,289. Conversely, if it rises above $108,315, it could regain bullish momentum and target $109,637 and above. Hence, the Bitcoin price prediction remains bearish under $107,000 and vice versa.

With the long weekend ahead, reduced liquidity is expected to amplify price movements. If ETF inflows continue and technical indicators recover, Bitcoin could potentially reach $115,000. However, if indecision and low volume persist, Bitcoin could experience significant volatility in either direction.

As Bitcoin’s price falls below $108,000, attention is shifting to altcoins like BTC Bull Token ($BTCBULL). So far, $6.33 million has been raised out of a $7.33 million cap. The presale is nearing its limit, with the next presale price jump closing in fast. BTC Bull Token operates with a built-in system where the higher Bitcoin’s price, the more BTC airdrops are distributed to token holders, with presale participants receiving priority. The system also features token burns every $50,000 increase in Bitcoin’s price, reducing supply. The current token price is $0.00253 before the next bump.

BTCBULL’s staking pool holds 1.62 billion tokens, offering a 65% APY with no lockup periods or fees, and full access to funds at any time. This structure appeals to holders looking for yield without complex requirements or risk of illiquidity. With just over $1 million remaining in the presale, buyers are positioning early, driven by the token’s mechanics of Bitcoin-tied rewards, supply adjustments, and staking options.