Record Inflows for Bitcoin ETFs
Inflows in spot Bitcoin ETFs have surged, reaching a staggering $631 million on February 13. This marks the largest single-day inflow since the launch of Bitcoin ETFs last month.
BlackRock’s iShares Bitcoin ETF Leads the Way
The iShares Bitcoin ETF (IBIT) by BlackRock recorded an impressive inflow of $493 million on Tuesday, surpassing all its competitors. Fidelity came in second with inflows of $163 million.
The outflows from GBTC have also slowed down, remaining under $100 million over the past three days. Currently, the net inflows into Bitcoin ETFs stand at $3.7 billion. BlackRock has seen $4.6 billion in net inflows, while GBTC has experienced $6.5 billion in net outflows.
Bitcoin Options Indicate a Potential Rally to $60,000
Bitcoin call options set to expire at the end of February are focusing on strike prices above $50,000, despite the cryptocurrency briefly dipping below this mark following U.S. inflation data.
Data from Deribit reveals a significant accumulation of open Bitcoin call options at strike prices of $60,000, $65,000, and $75,000 as the end-of-month expiry approaches.
Bullish traders with long-term perspectives are acquiring inexpensive call options set at strike prices well above the current Bitcoin levels, indicating anticipation of Bitcoin surpassing these levels before the end-of-month expiration date.
Market data shows a bias towards long positions, with a put-call ratio of 0.47 and an overall market put-call ratio of 0.60 in the past 24 hours.
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