Daily Analysis: ETF Inflows Comparison and Market Impact on May 20 and May 21, 2024

Inflows Overview

May 21, 2024

On May 21, 2024, the $BTC market saw an even greater net inflow of $305.7 million, driven mainly by:

- IBIT: +$290.0M

- FBTC: +$25.8M

Despite outflows from BITB (-$4.2M) and HODL (-$5.9M), the overall net inflow remained positive, reinforcing a bullish sentiment among investors.

Inflow Figures

- Total Net Inflow on May 20, 2024: +$237.2M

- Total Net Inflow on May 21, 2024: +$305.7M

The comparison reveals a significant increase in net inflows from May 20 to May 21, highlighting growing market enthusiasm and institutional investment.

Key Differences

- IBIT: Inflows surged from +$66.4M on May 20 to +$290.0M on May 21.

- FBTC: Inflows increased from +$64.0M on May 20 to +$25.8M on May 21.

- Outflows: Notable on May 21, with BITB (-$4.2M) and HODL (-$5.9M) absent on May 20.

Market Impact

The significant ETF inflows on both days contributed to a bullish sentiment, driving Bitcoin's price to around $71,000 on May 21. However, by May 22, the price corrected to approximately $69,564.34, likely due to market volatility and profit-taking.

Conclusion

The ETF inflows on May 20 and May 21, 2024, demonstrate strong and growing institutional interest in Bitcoin. The higher inflows on May 21 suggest an accelerating bullish trend, though the subsequent price correction on May 22 highlights the inherent volatility in the cryptocurrency market. Despite short-term fluctuations, the overall trend points to continued growth and increasing acceptance of Bitcoin in mainstream financial markets.

This is not financial advice, just an analysis from the past Days ETF inflows into Bitcoin.


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