Bitcoin ETFs record $274.6M of inflows after 5-week outflow streak — is BTC price reversal incoming?

Bitcoin exchange-traded funds recorded $274.6 million of inflows on Mar. 17, sparking speculations of a potential reversal.

Bitcoin (BTC) ETFs have experienced a notable turnaround, ending their streak of outflows with significant inflows totaling $274.6 million on March 17, making it the highest daily inflow since Feb. 4. All of the five Bitcoin funds enjoyed net inflows, led by Fidelity’s FBTC at $127.3 million. ARKB came second, recording $88.5 million of new inflows, followed by BlackRock’s IBIT with 42.3 million, Grayscale’s Bitcoin Fund at $14.2 million, and Bitwise’s BITB at $2.3. None of the funds recorded net outflows on the day.

Bitcoin ETFs record $274.6M of inflows after 5-week outflow streak — is BTC price reversal incoming? - 1
Source: Farside Investors

While these figures look encouraging, it’s important to note that Bitcoin ETFs have just ended their five consecutive weeks of outflows of nearly $5.4 billion, according to SoSoValue data. This was largely driven by the macroeconomic uncertainty ensuing after Trump had introduced tariffs, which offset the positive impact of his efforts to buttress Bitcoin and other assets by including them in the strategic reserve.

Meanwhile, Bitcoin price is currently consolidating around the $83,000 level, currently trading for $82,883 — down by just over 1% for the day. The 20-day exponential moving average sits at $85,559, acting as a dynamic resistance level BTC is struggling to break above. The failure to reclaim the 20-day EMA suggests that bears remain in control. If the price manages to break and hold above the resistance at $85,500, a move toward $88,000 – $90,000 could be on the horizon. However, if it drops below the $82,000 support, further downside toward the next support level at $80,000 might be in store.

Bitcoin ETFs record $274.6M of inflows after 5-week outflow streak — is BTC price reversal incoming? - 2
Source: crypto.news

However, if we zoom out, the broader trend still suggests long-term bullish potential, so the $274.6 million inflow on March 17 might be a signal of renewed institutional confidence after the prolonged outflow period.

According to trader Coinvo, Bitcoin price has recently broken out of the cup and handle pattern and has formed a bullish flag pattern, signalling a potential rally toward $125,000 in the coming months. So, the bearish consolidation around the $82,000 – $83,000 level could act as a base for the next upward move, provided Bitcoin can reclaim key resistance levels.

Bitcoin ETFs record $274.6M of inflows after 5-week outflow streak — is BTC price reversal incoming? - 3
Source: X post by Coinvo

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

  • Aniket Pujari

    Aniket Pujari

    Aniket Pujari, a graduate in Financial Markets, is the founder of Minute To Know News, a digital platform providing daily news updates on cryptocurrencies, finance, and economics. With a passion for finance and technology, Aniket has been exploring the world of cryptocurrencies since 2015, building a deep understanding of these rapidly evolving industries.

    Related Posts

    New Jersey Devils introduce AI chatbot ‘Bott Stevens’ via Theta EdgeCloud

    The New Jersey Devils have launched “Bott Stevens,” a custom AI chatbot designed to enhance digital fan engagement.  Named after Devils legend Scott Stevens, the chatbot is powered by Theta…

    What sets Lightchain AI apart from Trump and Melania memecoins

    Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. While TRUMP and MELANIA rode the memecoin wave, Lightchain…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    New Jersey Devils introduce AI chatbot ‘Bott Stevens’ via Theta EdgeCloud

    New Jersey Devils introduce AI chatbot ‘Bott Stevens’ via Theta EdgeCloud

    Rethinking 60/40 portfolio in a volatile era, according to Morgan Stanley

    What sets Lightchain AI apart from Trump and Melania memecoins

    What sets Lightchain AI apart from Trump and Melania memecoins

    3 megacaps tackle AI buildout, while Meta gets a big nod from Street

    Stagflation? Fed sees higher inflation and an economy growing by less than 2% this year

    Borrowing costs to drop in 2025

    Borrowing costs to drop in 2025