TLDR
- Wednesday saw US spot Bitcoin ETFs attract $462 million, marking three consecutive days of positive capital flows
- BlackRock’s IBIT dominated with a single-day inflow of $307 million
- BTC touched $73,243, marking a one-month peak, before retracing to approximately $72,200
- President Trump urged swift approval of crypto legislation, strengthening market confidence
- Despite a 12-point jump, the Crypto Fear & Greed Index stays in “extreme fear” territory at 20
Bitcoin (BTC) experienced significant upward momentum on Wednesday, momentarily surpassing $73,000 for the first time in thirty days before stabilizing around $72,200.
This price action coincided with robust performance from US spot Bitcoin exchange-traded funds, which collectively registered $462 million in net positive flows. This marked the third consecutive trading session of inflows, pushing the three-day cumulative total to $1.1 billion.
BlackRock’s iShares Bitcoin Trust (IBIT) dominated the landscape, capturing $307 million in single-day inflows. Fidelity’s FBTC contributed an additional $48 million, while the Grayscale Bitcoin Mini Trust secured $32 million in new investments.
The CoinShares BRRR fund was the sole exception, reporting flat activity for the session. All remaining US spot Bitcoin ETFs experienced positive inflows.
The year-to-date cumulative flows for Bitcoin ETFs currently total approximately $700 million. This represents a notable turnaround following a challenging five-week period earlier this year during which the funds experienced $3.8 billion in outflows.
Ethereum-based ETFs also demonstrated strength, accumulating $169 million in inflows on Wednesday following modest outflows in the previous session.
Presidential Remarks Boost Crypto Sentiment
President Donald Trump publicly advocated for expedited approval of pending cryptocurrency regulatory legislation. He simultaneously criticized leading American financial institutions for their resistance to enabling yield generation on stablecoin holdings.
These statements resonated positively throughout digital asset markets, elevating expectations for regulatory clarity in the United States.
The legislation referenced, formally identified as the CLARITY Act, seeks to establish a comprehensive regulatory framework for the cryptocurrency sector. However, no concrete legislative advancement has occurred since his remarks.
Traditional equity markets also experienced gains on Wednesday, which contributed to increased risk appetite and supported Bitcoin’s upward trajectory. News suggesting Iran might pursue diplomatic engagement with Washington further enhanced market optimism.
Geopolitical Tensions Surface Thursday
Bitcoin surrendered a portion of its Wednesday gains during Thursday’s early trading hours after Iran contradicted reports of seeking negotiations and launched missile strikes targeting Israel.
US equity futures reversed course following these developments, while crude oil prices spiked, raising fresh inflation concerns.
BTC traded at $72,366 in early Thursday activity, maintaining a 5% daily gain but showing an 8% decline across the trailing 30-day period.
Bitcoin has staged an approximately 20% rebound from its February trough of $60,000.
The Crypto Fear & Greed Index climbed 12 points during the 24-hour measurement window but remains anchored at 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 flow territory as of Tuesday’s close, with just three funds maintaining negative positions.
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