Bitcoin ETF Inflows Soar To Highest Level In Months As BTC Price Surges Past $68,000
Bitcoin experienced a 20% price correction, dropping below $56,400, but has since rebounded, breaking above the $66,000 resistance level. Inflows into US spot Bitcoin ETFs surged, reaching $948 million in positive net flows from May 13 to May 17, with 89% occurring in the last three trading days following a lower-than-expected CPI report. The Grayscale Bitcoin Trust saw small inflows of $18 million. The digital asset investment product space also saw inflows totaling $932 million. Bitcoin's ability to hold the $66,250 support level has analysts optimistic about further gains, but it still needs to secure a daily close above $67,000 to confirm potential for further upside. BTC is currently trading at $68,130, up 9% in the last week and over 8% in the last fourteen days.
