Key Insights
- Spot Bitcoin ETFs recorded six straight days of net inflows.
- A confirmed bull flag breakout suggests a $144K BTC target.
- Institutional demand remains strong, signaling long-term confidence.
Spot Bitcoin exchange-traded funds (ETFs) logged $408.6 million in net inflows on June 16, according to data from Farside Investors. The move marked six consecutive trading sessions of inflows, driven by rising institutional participation.
BlackRock’s IBIT fund led with $266.6 million in new capital, followed by strong flows into Fidelity, Bitwise, and Grayscale funds.
Institutional Demand for Spot Bitcoin ETFs Accelerates
BlackRock’s IBIT continued to lead the inflow rankings, drawing over $266 million in new capital. Fidelity’s FBTC followed with $83 million, while Bitwise’s BITB brought in $41.4 million. Grayscale’s GBTC recorded a more modest inflow of $12.8 million, with Mini BTC adding $4.8 million.
These inflows reflect consistent institutional interest, particularly as traditional finance firms expand their exposure to Bitcoin through regulated products. Farside Investors noted that no spot Bitcoin ETFs recorded outflows on the day, indicating broad investor confidence.
This marks the longest streak of inflows since early 2024, with ETF volume rising alongside Bitcoin’s sustained price above the $100,000 mark.
Bull Flag Breakout Reinforces Market Optimism
According to technical analysis by MerlijnTrader, Bitcoin has confirmed a bull flag breakout on the daily chart. This pattern consists of a sharp upward movement (the flagpole), followed by a downward-sloping channel (the flag), often interpreted as a continuation pattern.
Price action recently retested the breakout zone and held firm, validating the move. Based on the flag’s height and breakout level, the projected upside target is $144,000.
The chart also shows that Bitcoin has been maintaining a series of higher highs and higher lows since early April. This indicates a strong underlying trend structure and supports the case for a continued upward move if volume remains consistent. After the successful retest, the breakout appears intact. The market has not yet fully reacted to this setup.
Bitcoin ETFs Spot Market Activity Confirms Buyer Strength
A bullish sentiment is also justified by the CVD data on CryptoQuant. The 90-day Spot Taker CVD indicates that over the past few weeks, buy-side power has come back. A difference between the spot sell and buy volume of the taker is what this measure reflects.
Currently, green bars on the chart indicate strong buying pressure, especially from spot traders. This buying activity continues even as Bitcoin consolidates above $100,000, suggesting demand is stable at current price levels.
In the past market cycles, these bullish CVD trends were followed by large rallies in prices. Reactions in late 2020 and mid-2023 caused a steep rise in the same behavior. In case this tendency persists, Bitcoin might be getting ready to move further.
Also, the low selling/dominant volume implies that the investors are not in a hurry to qualify their profits. This is consistent with the most recent ETF inflow, detailing that the majority of funds are coming in on a long-term basis, and not as short-term speculation.
Bitcoin’s Status Among Top Innovations Adds to Long-Term Narrative
In a recent development, Bank of America has ranked Bitcoin as one of the most significant developments over the last 1,000 years. The bank compared Bitcoin to such significant breakthroughs as the printing press, the internet, and quantum computing in a recent report.
The bank emphasized the role of Bitcoin in a shift in the world towards a digital infrastructure. It further mentioned that it currently does not offer direct Bitcoin trading, but it is looking forward to the integration of crypto payments once better regulation is developed. The report went on to state that bitcoin is not just an asset type but a technology that is an indication of the speed of the digital transformation.
Olivia Stephanie is a FinTech enthusiast with a keen understanding of financial markets. Her passion for economics and finance has led her to explore emerging blockchain technology and cryptocurrency markets.