Money flowed back into US Bitcoin ETFs on Monday. A lot of it. Around $561.9 million came in. This ended four straight days of money going out. It was the biggest one day inflow since mid January.
This happened even though Bitcoin prices stayed shaky. Big investors seem to be thinking long term. Short term price moves did not scare them away.
Bitcoin dropped close to $75,000 earlier in the day. Later it bounced back to around $78,500. Still much lower than where it was before the recent fall.
The price rose about 3% on the day. This came after Bitcoin hit its lowest level in about nine months. Even with the bounce, it is still down nearly 39% from its all time high of over $126,000 seen in early October.
Most of the money went into Fidelity and BlackRock funds. Fidelity’s Bitcoin ETF pulled in about $153.4 million. BlackRock followed with around $142 million. Bitwise also saw strong interest with $96.5 million coming in. Other big ETF providers also reported gains.
This was a relief after two rough weeks. ETFs had lost $1.49 billion last week. The week before that, another $1.33 billion went out. Investors were clearly nervous as prices kept falling.
Ethereum ETFs did not share the same luck. They saw small outflows on Monday. This came after a much bigger exit last Friday.
Some analysts are still cautious. Galaxy Digital warned that Bitcoin could fall more. They say there is no strong reason yet for a solid recovery.
Their research head explained that in past bear markets, Bitcoin often dropped below key levels before finally turning around. One important level now sits near $58,000. Another risk level is around $70,000.
He said these zones have often marked good long term entry points. But they can still hurt in the short run.
Not everyone is pessimistic though. Analysts at Bernstein believe Bitcoin could soon find a bottom. They think it may settle near the $60,000 range. That was the high of the previous cycle. From there, a recovery could start later this year.
They say this dip looks more like a correction. Not the start of a long crash. Big institutions are still involved. Bitcoin ETFs now hold around $165 billion in assets. Companies are also keeping Bitcoin on their balance sheets.
Miners are not panicking either. Many now earn money from AI data centers. This makes them less dependent on Bitcoin prices alone.
Bernstein also mentioned US policy as a future boost. They believe the government will not stay quiet if crypto markets keep sliding.
For now, Bitcoin remains under pressure. But big money is clearly not walking away just yet.
