US spot Bitcoin exchange‑traded funds (ETFs) recorded their largest single-day inflow for June on Tuesday with $588.6 million. The increase extends the streak of 11 consecutive positive days, the longest since December 20,24.
As per data Farside Investors was the main source of inflows. BlackRock’s iShares Bitcoin Trust (IBIT)On Tuesday, the company brought in 436.9 million dollars.
Bitwise’s FBTC was next with $217.6 millions in capital. VanEck contributed less. Grayscale’s GBTC experienced continued losses of $85.2 millions.
Bitcoin will run for an 11-day period starting in June.BTCETFs received more than $2 billion of inflows in recent months, which indicates a rising institutional interest in asset classes despite the geopolitical turmoil.
Related: US crypto ETF approval odds surge to ‘90% or higher’
Israel‑Iran ceasefire eases market worries
The spot Bitcoin ETFs as well as the broader crypto market received a major boost after a ceasefire was reached between Israel and Iran.
The US president Donald Trump has announced that the US will be imposing a new. “complete and total ceasefire” Tuesday markets breathed a sigh of relief. Bitcoin surged to a daily high of over $106,800, climbing from a recent six‑week low near $98,000, according to data from CoinMarketCap.
“Persistent inflows into spot Bitcoin ETFs spotlight the strengthening story of BTC as digital gold. Investors are seeking stability through scarcity,” Vincent Liu told Cointelegraph that he is chief investment officer for the Taiwanese company Kronos research.
“Bit by bit, Bitcoin is bolstering its position as a resilient refuge in a rapidly shifting geopolitical landscape.”
Ether, a new cryptocurrency (ETH-based ETFs had mixed results. VanEck’s EFUT received $98 inflows Tuesday. However, Grayscale ETHE lost $26.7 in the same period.
Related: History suggests Bitcoin taps $330K, crypto ETF odds hit 90%
The market is waiting for macro signals
Ray Youssef of NoOnes described Bitcoin’s recent rise as an a “relief rally” Investor confidence has been boosted more by the stabilization of markets than by a breakout. Youssef told Cointelegraph that the recovery felt similar to the previous market. “exhaling after a period of sustained tension.”
The macroweek was busy, and traders were cautious in spite of the ceasefire. Short-term movements are likely to be affected by several key events in the near future, such as Fed Chair Jerome Powell’s congressional testimony, and PCE inflation data.
Youssef believes that Bitcoin’s price will remain between $100,001 and $106,000 until more clear signals appear. There is resistance at $106,200. If support for $100,000 does not hold, the risk could be a fall to $93,000.
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Source: cointelegraph.com
