Bitcoin ETFs See $603.74M Inflows Amid Price Consolidation

Last week, US-listed spot Bitcoin exchange-traded funds (ETFs) recorded net inflows exceeding $600 million, marking a continuation of positive capital movement into digital asset products. However, this figure was the lowest weekly inflow in the past month, indicating investor caution or profit-taking at higher levels. Between May 12 and May 16, inflows into spot BTC ETFs totaled $603.74 million, highlighting a more cautious but sustained capital movement into the market.

The slowdown in ETF inflows can be attributed to BTC price consolidation during the five-day period under review. Throughout that period, BTC traded sideways, facing resistance at around $104,971 while finding consistent support at $102,711. This lack of clear movement likely led some investors to be more cautious, resulting in reduced capital inflows into BTC ETFs last week.

Despite the dip in weekly inflows, bullish momentum persists in the BTC market. The king coin briefly surged to a three-month high of $107,108 during Monday’s early trading session. While it has since corrected to trade at $104,956, the bullish bias toward the coin remains significant. BTC’s price uptick comes alongside a rise in its futures open interest, which stands at $70.03 billion at press time, climbing 7% over the past day. Open interest refers to the total number of outstanding derivative contracts, such as futures or options, that have not been settled. When open interest rises alongside price, it typically signals that new money is entering the market. This supports the strength of BTC’s ongoing trend and could trigger a sustained price uptick in the near term.

Moreover, options market data further supports this optimistic outlook. Today, the demand for call options has outpaced puts, pointing to a growing demand for bullish positioning. Nevertheless, with derivatives activity surging and BTC reclaiming higher price levels, the coin could reach new highs in the short term.