{"id":531799,"date":"2024-06-05T08:25:31","date_gmt":"2024-06-05T08:25:31","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=531799"},"modified":"2024-06-05T08:25:31","modified_gmt":"2024-06-05T08:25:31","slug":"bitcoin-blasts-past-70k-as-spot-btc-etfs-record-second-highest-net-inflows","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-blasts-past-70k-as-spot-btc-etfs-record-second-highest-net-inflows","title":{"rendered":"Bitcoin Blasts Past $70K As Spot BTC ETFs Record Second-Highest Net Inflows"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The Bitcoin price <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\"><span style=\"font-weight: 400;\">blasted<\/span><\/a><span style=\"font-weight: 400;\"> past $70k as spot Bitcoin ETFs (exchange-traded funds) recorded their second-best daily inflows since their launch in January.<\/span><\/p>\n<p><a href=\"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-as-btc-flirts-with-70k-and-the-99btc-learn-to-earn-ico-closes-on-2-million\"><span style=\"font-weight: 400;\">BTC<\/span><\/a><span style=\"font-weight: 400;\"> jumped more than 3% to trade at $71,152.04 as of 3:25 a.m. EST while the newly-launched ETFs added another $886.6 million to their reserves on June 4, according to preliminary <\/span><a href=\"https:\/\/farside.co.uk\/?p=997\"><span style=\"font-weight: 400;\">data<\/span><\/a><span style=\"font-weight: 400;\"> from Farside Investors.<\/span><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.pixabay.com\/photo\/2017\/01\/25\/12\/31\/bitcoin-2007769_1280.jpg\" alt=\"1,000+ Free Bitcoin &amp; Cryptocurrency Images - Pixabay\"><\/p>\n<h2><span style=\"font-weight: 400;\">Analysts Predict A New All-Time High For Bitcoin Price<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The Fidelity Wise Origin Bitcoin Fund (FBTC) led the charge with $378.7 million of inflows. In second place was BlackRock&rsquo;s iShares Bitcoin Trust (IBIT), which saw $274.4 million enter its fund. Meanwhile, the ARK 21Shares Bitcoin ETF (ARKB) was the third-best performer with its $138.7 million of inflows, according to Farside.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A day after the ETFs raked in the record $1.04 billion in daily inflows on March 12, the Bitcoin price went on to establish a new all-time high of $73,679 on Mar. 13.&nbsp;<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The crucial level at $70K needs to break. <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> had a test there yesterday, but couldn't get through it.<\/p>\n<p>Once it will, that's when a new all-time high test and run of <a href=\"https:\/\/twitter.com\/hashtag\/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw\">#Altcoins<\/a> is going to happen. <a href=\"https:\/\/t.co\/8g39krvypq\">pic.twitter.com\/8g39krvypq<\/a><\/p>\n<p>&mdash; Micha&euml;l van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1797912424311590942?ref_src=twsrc%5Etfw\">June 4, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">Analysts are bullish on BTC as a result. MN Trading Consultancy founder Michael van de Poppe told his over 718k followers on X that the king of cryptos could soon reach a new all-time high after it managed to break above $70K. This could also trigger an altcoin rally, he added.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Pseudonymous analyst Rekt Capital shared a similar sentiment. He <\/span><a href=\"https:\/\/x.com\/rektcapital\/status\/1798029787761692896\"><span style=\"font-weight: 400;\">believes<\/span><\/a><span style=\"font-weight: 400;\"> that the Bitcoin price might be on the verge of entering &ldquo;the Parabolic Phase of the cycle.&rdquo;<\/span><\/p>\n<p>Presales with links to Bitcoin might also gain, with <a href=\"https:\/\/insidebitcoins.com\/visit\/99bitcoins\" rel=\"nofollow\">99Bitcoins (99BTC)<\/a> one possible beneficiary. It is about to pass $2 million in funds raised,<\/p>\n<h2><span style=\"font-weight: 400;\">Long-Term BTC Holders Start To Come Alive<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Long-term <\/span><a href=\"https:\/\/insidebitcoins.com\/news\/el-salvadors-continued-embrace-of-bitcoin-under-president-bukeles-second-term\"><span style=\"font-weight: 400;\">Bitcoin<\/span><\/a><span style=\"font-weight: 400;\"> holders seem to be getting ready for a big price move. Wallet addresses that have been dormant for up to a decade have recently awakened, according to on-chain <\/span><a href=\"https:\/\/cryptoquant.com\/asset\/btc\/chart\/network-indicator\/spent-output-age-bands?window=BLOCK&amp;priceScale=log&amp;metricScale=linear\"><span style=\"font-weight: 400;\">analytics<\/span><\/a><span style=\"font-weight: 400;\"> by CryptoQuant.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&ldquo;Old coins moving, after old coins moving, after old coins moving,&rdquo; CryptoQuant analyst J. A. Maartunn <\/span><a href=\"https:\/\/x.com\/JA_Maartun\/status\/1797644150101479432\"><span style=\"font-weight: 400;\">said<\/span><\/a><span style=\"font-weight: 400;\"> on X.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Related Articles:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.linkedin.com\/pulse\/best-altcoins-invest-unveiling-top-picks-maximum-returns-calsona-9ceye\/\"><span style=\"font-weight: 400;\">Best Altcoins to Invest In: Unveiling Top Picks for Maximum Returns!<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/news\/coinbase-donates-25-million-as-crypto-industry-boosts-election-campaign-war-chest-to-160-million\"><span style=\"font-weight: 400;\">Coinbase Donates $25 Million As Crypto Industry Boosts Election Campaign War Chest To $160 Million<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/news\/notcoin-price-prediction-not-soars-145-in-a-week-and-this-new-casino-token-might-be-the-next-to-explode\"><span style=\"font-weight: 400;\">Notcoin Price Prediction: NOT Soars 145% In A Week And This New Casino Token Might Be The Next To Explode<\/span><\/a><\/li>\n<\/ul>\n\n            \n","protected":false},"excerpt":{"rendered":"<div class=\"fin-excerpt\">The Bitcoin price blasted past $70k as spot Bitcoin ETFs (exchange-traded funds) recorded their second-best daily inflows since their launch in January. BTC jumped more <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/news\/bitcoin-blasts-past-70k-as-spot-btc-etfs-record-second-highest-net-inflows\" title=\"Bitcoin Blasts Past $70K As Spot BTC ETFs Record Second-Highest Net Inflows\">[&#8230;]<\/a><\/div>","protected":false},"author":1954,"featured_media":515063,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7596],"tags":[],"class_list":["post-531799","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Blasts Past $70K As Spot BTC ETFs Record Second-Highest Net Inflows - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"The Bitcoin price blasted past $70k after spot Bitcoin ETFs recorded their second-best daily inflows since their launch in January.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/531799\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Blasts Past $70K As Spot BTC ETFs Record Second-Highest Net Inflows\" \/>\n<meta property=\"og:description\" content=\"The Bitcoin price blasted past $70k after spot Bitcoin ETFs recorded their second-best daily inflows since their launch in January.\" \/>\n<meta property=\"og:site_name\" content=\"InsideBitcoins.com\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-05T08:25:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/05\/kanchanara-Lta5b8mPytw-unsplash-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1703\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Steven Walgenbach\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@__CryptoSteve\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Steven Walgenbach\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/531799#article\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/531799\"},\"author\":{\"name\":\"Steven Walgenbach\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/87782b69af094c4f9a428f68ec30855a\"},\"headline\":\"Bitcoin Blasts Past $70K As Spot BTC ETFs Record Second-Highest Net Inflows\",\"datePublished\":\"2024-06-05T08:25:31+00:00\",\"dateModified\":\"2024-06-05T08:25:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/531799\"},\"wordCount\":365,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/531799#primaryimage\"},\"thumbnailUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/05\/kanchanara-Lta5b8mPytw-unsplash-scaled.jpg\",\"articleSection\":[\"Breaking Crypto News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/531799#respond\"]}],\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/531799\",\"url\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/531799\",\"name\":\"Bitcoin Blasts Past $70K As Spot BTC ETFs Record Second-Highest Net Inflows - 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