TLDR
- Wednesday saw US spot Bitcoin ETFs attract $462 million, marking three consecutive days of capital inflows
- BlackRock’s IBIT dominated with $307 million in single-day investments
- BTC reached $73,243, its highest level in 30 days, before retracing to approximately $72,200
- President Trump urged swift action on crypto legislation, improving market confidence
- The Crypto Fear & Greed Index climbed 12 points yet stays in “extreme fear” territory at 20
Bitcoin (BTC) experienced significant upward momentum on Wednesday, momentarily surpassing $73,000—a level unseen for an entire month—before stabilizing around $72,200.
This price action coincided with robust performance from US spot Bitcoin ETFs, which accumulated $462 million in net inflows. This marked the third consecutive trading session of positive capital flows, pushing the three-day aggregate to $1.1 billion.
BlackRock’s iShares Bitcoin Trust (IBIT) dominated the landscape, capturing $307 million in inflows during the session. Fidelity’s FBTC contributed an additional $48 million, while the Grayscale Bitcoin Mini Trust secured $32 million.
The CoinShares BRRR fund was the sole exception, reporting no inflows for the day. All other US spot Bitcoin ETFs registered positive movements.
Year-to-date, ETF flows have rebounded to approximately $700 million. This represents a significant turnaround following a five-week hemorrhage that drained $3.8 billion from these investment vehicles earlier this year.
Ethereum ETFs also demonstrated resilience, attracting $169 million on Wednesday following slight outflows during the previous session.
Presidential Remarks Boost Market Sentiment
President Donald Trump publicly advocated for expedited approval of pending crypto market structure legislation. He simultaneously criticized leading US financial institutions for their opposition to yield-bearing stablecoins.
These statements resonated favorably throughout crypto markets, enhancing optimism regarding potential regulatory clarity in the United States.
The legislation, formally titled the CLARITY Act, seeks to establish a comprehensive regulatory framework for the cryptocurrency sector. However, no concrete legislative advancement has materialized yet.
Traditional equity markets also closed positively on Wednesday, amplifying risk appetite and contributing to Bitcoin’s appreciation. Additional optimism emerged from reports suggesting Iran might pursue diplomatic engagement with Washington.
Geopolitical Tensions Create Thursday Headwinds
Bitcoin surrendered a portion of its gains Thursday morning following Iran’s denial of diplomatic outreach and subsequent missile launches targeting Israel.
US equity futures reversed course on this development, while crude oil prices spiked, raising fresh inflationary concerns.
BTC was changing hands at $72,366 during early Thursday trading, reflecting a 5% daily gain but remaining approximately 8% below levels from 30 days prior.
Bitcoin has staged a roughly 20% recovery from its February bottom of $60,000.
The Crypto Fear & Greed Index advanced 12 points during the 24-hour measurement period but continues registering a score of 20, firmly within “extreme fear” classification.
Bloomberg ETF analyst Eric Balchunas observed that nearly all Bitcoin ETFs had transitioned to positive year-to-date flows as of Tuesday’s close, with just three funds remaining in negative territory.
