Bitcoin ETF Inflows Fueling Potential “Parabolic Run” for BTC Price

Bitcoin is on the brink of a major surge as inflows into United States spot Bitcoin exchange-traded funds (ETFs) continue to rise, according to crypto analysts. In the past 19 days, these ETFs have seen positive flows totaling close to $1.7 billion, with experts predicting that if this trend persists, Bitcoin’s price could surpass its all-time high of $73,835 set in March.

Data from Farside Investors shows that over $15.5 billion have flowed into spot Bitcoin ETFs, holding approximately 5.2% of all BTC in circulation. Analysts believe that continued inflows into these ETFs will help Bitcoin break through key resistance levels and enter into price discovery territory.

Independent trader Jelle shared a BTC weekly chart indicating that the price is currently facing resistance at the $72,000 level. With significant ETF demand and neutral funding, Jelle believes it’s only a matter of time before the price climbs higher.

Bloomberg senior ETF analyst Eric Balchunas described the recent surge in ETF flows as a “tidal wave,” suggesting that this influx could have a significant impact on Bitcoin’s price. The rise in demand for digital asset investments in May, totaling $2 billion in inflows, reflects growing investor confidence in these assets and a more favorable regulatory environment.

Pseudonymous trader Moustache pointed out that Bitcoin is on the verge of crossing a key resistance line on the five-day chart, signaling a potential parabolic run. Similarly, analyst Jelle noted that Bitcoin’s price has surpassed its all-time highs on the weekly timeframe, indicating a potential parabolic uptrend if it can sustain above this level.

Currently trading over $71,000, Bitcoin is up more than 4% for the week and 68% year-to-date. While the asset remains 3.6% down from its all-time high, analysts are optimistic about its future price movements as ETF inflows continue to surge.