{"id":15363,"date":"2024-03-13T18:30:39","date_gmt":"2024-03-13T18:30:39","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=15363"},"modified":"2024-03-13T15:08:07","modified_gmt":"2024-03-13T15:08:07","slug":"bitcoin-targets-74k-as-btc-etfs-witness-record-1b-in-net-inflows","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitcoin-targets-74k-as-btc-etfs-witness-record-1b-in-net-inflows\/","title":{"rendered":"Bitcoin Targets $74K as BTC ETFs Witness Record $1B in Net Inflows"},"content":{"rendered":"

On Tuesday, spot bitcoin exchange-traded funds experienced a significant influx of 14,706 BTC, equivalent to over $1 billion, as per data tracked by BitMEX Research.<\/p>\n

Bitcoin (BTC) surged above $73,000 early Wednesday, marking a 2.5% increase in 24 hours and reversing the losses incurred on Tuesday following a $360 million liquidation event that caused prices to plummet.<\/p>\n

This upward movement came after a historic day for exchange-traded fund (ETF<\/a>) inflows, both in terms of dollars and bitcoin. BitMEX Research data revealed that spot bitcoin ETFs garnered a net inflow of 14,706 BTC, surpassing a previous February record of $673 million in inflows.<\/p>\n

Blackrock recorded a remarkable $849 million in inflows, while Grayscale experienced outflows amounting to $79 million. The total inflow surpassed the $4 billion mark.<\/p>\n

Some traders interpreted the bitcoin price surge as indicative of institutional buying activity.<\/p>\n

“The intraday movement resembles the behavior of large institutional traders, with trading algorithms reacting to the movement and retail traders often following suit,” commented Alex Kuptsikevich, a senior market analyst at FxPro, in an email to CoinDesk. “In any case, the overall trend remains bullish, and bitcoin is approaching its previous highs as European trading begins.”<\/p>\n

Overall, professional investors maintain a bullish sentiment, with expectations of a potential “sell-side crisis” later in the year as ETF-driven buying demand continues to rise.<\/p>\n

\n

In the comment section, you can freely share your comments about the topic. Additionally, don\u2019 t forget to follow us on\u00a0Telegram<\/strong>,\u00a0<\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

On Tuesday, spot bitcoin exchange-traded funds experienced a significant influx of 14,706 BTC, equivalent to over $1 billion, as per data tracked by BitMEX Research. Bitcoin (BTC) surged above $73,000 early Wednesday, marking a 2.5% increase in 24 hours and reversing the losses incurred on Tuesday following a $360 million liquidation event that caused prices<\/p>\n","protected":false},"author":1,"featured_media":15364,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[61,1766,297],"class_list":["post-15363","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-bitcoin","tag-bitcoin-btc","tag-etf"],"yoast_head":"\nBitcoin Targets $74K as BTC ETFs Witness Record $1B in Net Inflows - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Bitcoin (BTC) surges past $73,000 after record-breaking net inflows of over $1 billion into spot Bitcoin ETFs.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-targets-74k-as-btc-etfs-witness-record-1b-in-net-inflows\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Targets $74K as BTC ETFs Witness Record $1B in Net Inflows - 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