Bitcoin reclaimed the $65,000 line overnight after three consecutive sessions of positive net inflows into US spot Bitcoin ETFs, breaking a two-week pattern of outflows.
Where the flow came from
- BlackRock IBIT: +$214M, the largest single-day creation in two weeks.
- Fidelity FBTC: +$96M.
- Grayscale GBTC: outflows continued at a slower pace, -$28M.
Derivatives stayed cool
Despite the spot move, perpetual funding rates on major exchanges held near neutral, suggesting the rally was driven by spot demand rather than leveraged positioning. That tends to be a healthier setup, with less risk of an immediate cascade-liquidation pullback.
Levels to watch
Resistance sits at the prior swing high near $66,800. A daily close above that, with continued ETF inflows, would put $70,000 back into focus. On the downside, the 50-day moving average near $62,400 is the first material support.
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