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Bitcoin ETFs Rally with $15M Inflow as BTC Hits 10-Day Peak

BTC price momentum: a 10-day high achieved

Bitcoin (BTC), the pioneering cryptocurrency, has demonstrated a notable resurgence, marking its most significant daily close in the past ten days. Closing above $69,000 on March 25, BTC's price trajectory has investors and market watchers on alert as it reclaims crucial resistance levels. This bullish momentum was particularly evident as BTC soared to over $71,000, a move underpinned by an encouraging uptick during Wall Street's first trading session of the week. 

Financial commentator Tedtalksmacro highlighted a rejuvenation in investor interest towards spot Bitcoin exchange-traded funds (ETFs), pointing out a shift to positive net inflows after a week of declining engagement. 

He stated, underscoring a palpable return of bid interest in the crypto market:

"After 5 consecutive outflow days, Bitcoin spot ETFs saw +$15.4M USD flow in on Monday. +262M from Fidelity,”

ETF inflows spark renewed market optimism

The renewed vigor within the Bitcoin market is partly attributable to the significant inflow of funds into Bitcoin ETFs, a stark turnaround from the prior week's outflows. Notably, the financial landscape saw a $15.4 million USD inflow into Bitcoin spot ETFs, with Fidelity's contribution standing out at $262 million. 

This influx of funds marks a vital moment, suggesting a growing confidence among investors. Tedtalksmacro, a renowned financial analyst, illuminated this positive shift on social media, stating: 

“The bid is back.” 

Despite the substantial $350 million outflows from the Grayscale Bitcoin Trust (GBTC), the BTC/USD pair managed to navigate past potential hindrances, underscoring the resilience and appeal of Bitcoin to both seasoned and new investors. The market's response, as observed through these ETF inflows, underscores a rejuvenated sentiment, setting the stage for what many hope to be the next chapter in Bitcoin's bullish narrative.

Analysts eye future prospects: $100K BTC on the horizon?

The outlook for Bitcoin's price trajectory has been increasingly optimistic, with analysts spotlighting the potential for BTC to breach the $100,000 mark. This speculation is fueled by the recent market movements and the strategic inflows into Bitcoin ETFs, hinting at a robust investment appetite. 

Prominent trader and analyst Matthew Hyland voiced his enthusiasm, suggesting that the current market dynamics could pave the way for an unprecedented rally. 

Hyland remarked on social media, pointing to a bullish future:

"If this turns into the clearing of this final area for Bitcoin then increased likelihood of a run up to $100k is incoming," 

Meanwhile, concerns over potential market corrections, highlighted by analyst Mark Cullen's mention of unfilled gaps in CME Group Bitcoin futures, have not dampened spirits. 

Daan Crypto Trades added a note of confidence, highlighting the unusual market behavior of not immediately closing the gap, indicating a stronger market position.