Bitcoin traded near $72,500 after briefly climbing above the $72,000 mark, supported by steady inflows into U.S. spot Bitcoin exchange-traded funds. On Wednesday alone, these ETFs attracted about $155 million in net inflows, extending a two-week streak of institutional investment.
Data from Sosovalue shows that total allocations into spot Bitcoin ETFs have reached roughly $1.47 billion over the past 14 days. The renewed interest follows several weeks earlier in the year when many funds experienced withdrawals amid broader crypto market uncertainty.
Institutional flows have become an important factor in stabilizing the market. Large investors are increasingly using regulated ETF products to gain exposure to Bitcoin without directly holding the digital asset.
On-Chain Data Signals Mixed Market Conditions
Despite improving ETF inflows, blockchain data indicates that demand remains cautious. Analytics from Glassnode shows buy side momentum weakening in recent weeks.
The firm reported that realized profits across the network have fallen by roughly 63% since early February. In addition, only about 57% of Bitcoin’s circulating supply is currently in profit a level that has historically appeared during the early phases of bearish market cycles.
Market analysts note that the cost basis for many short-term holders is close to $70,000, which could act as an important psychological level for price movements in the near term.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.