Key Highlights
- Wednesday saw US spot Bitcoin ETFs attract $462 million, marking the third consecutive day of capital inflows
- BlackRock’s IBIT dominated with $307 million in single-day contributions
- Bitcoin reached $73,243, its highest level in 30 days, before retracing to approximately $72,200
- President Trump advocated for swift approval of crypto legislation, enhancing market optimism
- Despite a 12-point increase, the Crypto Fear & Greed Index remains at 20, indicating “extreme fear”
Bitcoin (BTC) experienced significant upward momentum on Wednesday, momentarily breaking through the $73,000 threshold for the first time in 30 days before stabilizing around $72,200.
This price action coincided with robust performance from US spot Bitcoin ETFs, which accumulated $462 million in net capital. This marked the third consecutive session of positive inflows, pushing the three-day aggregate to $1.1 billion.
BlackRock’s iShares Bitcoin Trust (IBIT) dominated the inflow landscape, capturing $307 million for the trading session. Fidelity’s FBTC secured $48 million in fresh capital, while Grayscale’s Bitcoin Mini Trust contributed an additional $32 million.
The CoinShares BRRR fund was the sole exception, reporting flat activity. All remaining US spot Bitcoin ETFs registered positive inflows.
Year-to-date, ETF flows have climbed to approximately $700 million. This represents a significant turnaround from a prolonged five-week withdrawal period that drained $3.8 billion from these investment vehicles.
Ethereum ETFs similarly demonstrated strength, collecting $169 million on Wednesday following slight outflows during the previous session.
Presidential Remarks Boost Cryptocurrency Sentiment
President Donald Trump issued a public statement urging expedited approval of stalled crypto regulatory legislation. He simultaneously criticized leading US financial institutions for their opposition to stablecoin yield mechanisms.
These remarks were warmly received across crypto trading platforms, elevating expectations for improved regulatory clarity within the United States.
The referenced legislation, commonly called the CLARITY Act, seeks to establish comprehensive market guidelines for digital asset industries. Legislative advancement remains pending without concrete timeline.
Traditional equity markets also posted gains Wednesday, amplifying risk-on behavior that contributed to Bitcoin’s appreciation. Additional optimism emerged from reports suggesting Iran’s willingness to engage in diplomatic discussions with Washington.
Geopolitical Developments Create Thursday Headwinds
Bitcoin surrendered a portion of Wednesday’s gains during Thursday’s early trading after Iran refuted diplomacy reports and conducted missile strikes against Israel.
US equity index futures reversed course following these developments, while crude oil prices spiked, reigniting inflation anxieties.
As of Thursday morning, BTC traded at $72,366, representing a daily increase exceeding 5% but reflecting an 8% decline across the previous 30-day window.
Bitcoin has rebounded approximately 20% from its February trough of $60,000.
The Crypto Fear & Greed Index advanced 12 points throughout the 24-hour measurement period but remains anchored at 20, firmly within “extreme fear” territory.
Bloomberg ETF specialist Eric Balchunas observed that nearly every Bitcoin ETF had transitioned to positive year-to-date flows as of Tuesday’s close, with merely three funds maintaining negative balances.
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