Emre Yumlu 
U.S.-based spot Bitcoin ETFs have recorded uninterrupted daily inflows for the first time in four weeks, amassing a massive $2.75 billion in total weekly inflows. This marks a significant rise compared to the previous week’s $608 million—over four times higher.
BlackRock’s IBIT Leads the Surge
On May 23, the final trading day of the week, spot Bitcoin ETFs saw a combined $211.7 million in net inflows. However, nearly all of that came from BlackRock’s IBIT, which attracted a whopping $430.8 million in a single day. With this, IBIT extended its inflow streak to eight consecutive days.
Meanwhile, outflows were observed in other major funds. Grayscale’s GBTC led with $89.2 million in withdrawals, followed by ARK 21Shares’ ARKB, which posted $73.9 million in outflows.
Bitcoin Hits New All-Time Highs
On May 21, ETF inflows hit $607.1 million, coinciding with Bitcoin breaking its previous all-time high of $109,000. The following day, BTC surged even further, reaching a new peak of $111,970.
As of the latest data, Bitcoin is trading at $108,141.
Slight Cooldown in Market Sentiment
The minor pullback in price over the past 24 hours is mirrored in the broader sentiment across the crypto market. According to the Crypto Fear & Greed Index, current market sentiment reads “Greed” with a score of 66, dropping from “Extreme Greed” (78) just one day earlier.
Monthly Inflow Record Within Reach
So far in May, spot Bitcoin ETFs have accumulated $5.39 billion. With several trading days still remaining, the monthly inflow record of $6.49 billion set in November 2024 may soon be surpassed.
Analysts: Bitcoin Rally Not Overheated Yet
Market experts argue that despite hitting fresh highs, Bitcoin has not entered an overheated phase. Key metrics like funding rates and short-term capital inflows remain moderate compared to past peaks. Additionally, profit-taking by short-term holders appears limited, suggesting more room for growth.
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