Inflows of $306M Hit Bitcoin ETFs, and BTC Caught Near $70,000

Bitcoin ETFs saw about $306 million in net inflows yesterday, according to new data from SoSoValue; the cryptocurrency is now trading around $70K

On May 21, over $306 million was poured into Bitcoin ETFs.
It's presently trading around $70K BTC.

On May 21, Bitcoin ETFs received about $306 million in net inflows, according to the most recent statistics from SoSoValue.

A recent day witnessed a net inflow of $26 million to Fidelity's FBTC Bitcoin ETF and a single-day net inflow of $290 million to BlackRock's IBIT Bitcoin ETF. No funds were added to or removed from Grayscale's Bitcoin ETF, GBTC.

The same data also shows that the total net asset value of Bitcoin ETFs was $58.9 billion.

Bitcoin ETFs have had inflows for seven days running as of May 21.

According to statistics from CoinMarketCap, Bitcoin is now selling for about $69.8k, representing a decrease of over 2% over the previous 24 hours.

The fresh CPI report showed encouraging statistics of a 3.4% lowered inflation rate for April on May 15, which sent Bitcoin on a bullish ride for the last week.

Predictions of further price gains for Bitcoin followed last week's and today's positive trends.

Blockchain programmability was recently mentioned by Bitcoin developers as a possible price driver.

Additionally, prominent cryptocurrency expert Willy Woo has offered commentary on Bitcoin's recent price surge, stating that the price must remain consolidated below its all-time highs for a period of time before the coin may see new all-time highs.

A new all-time high (ATH) for Bitcoin may be in sight, according to recent reports from the Matrixport crypto platform.

Matrix on Target had been predicting a consolidation for much of the last several months, but their most recent two weekly reports have been constructive and optimistic again, according to their X account article.

Former President Trump was referred to by the Matrixport team as Bitcoin's "biggest upside risk" because to his positive actions.


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