BlackRock IBIT Leads $76M Bitcoin ETF Inflows Despite Market Dip

TLDR

• Spot Bitcoin ETFs saw $76.42 million in inflows on Tuesday, marking second consecutive day of net inflows despite market volatility
• BlackRock’s IBIT ETF led with $38.22 million inflow, bringing its total to $39.64 billion
• BTC price dipped 3% to $83,341 with $40 billion market cap drop, but futures traders remain optimistic
• Analyst Dave the Wave predicts Bitcoin is forming a bullish inverse head-and-shoulders pattern with potential rise to $110,000
• Binance data shows positive Net Taker Volume, indicating aggressive bullish positioning from traders

Spot Bitcoin ETFs recorded their second consecutive day of net inflows on Tuesday, totaling $76.42 million. This follows Monday’s $1.47 million inflow, suggesting a shift in institutional investor sentiment after a week of persistent outflows.

The gradual return of investment into Bitcoin ETFs points to renewed confidence in the cryptocurrency’s long-term prospects. This comes even as short-term price volatility continues to affect the broader market.

BlackRock’s IBIT emerged as the day’s standout performer. The fund attracted $38.22 million in new investment, pushing its cumulative net inflows to an impressive $39.64 billion.

Ark Invest and 21Shares’ ARKB secured the second-highest daily inflow at $13.42 million. This brings the ETF’s historical net inflows to $2.60 billion.

Market Indicators Show Mixed Signals

The cryptocurrency market experienced a noticeable decline in trading activity over the past 24 hours. Total market capitalization dropped by $40 billion during this period.

Bitcoin’s price fell by 3%, trading at $83,341 at press time. This price dip coincided with a 5% decrease in Bitcoin futures open interest, indicating a retreat from leveraged positions.

The decline suggests traders are closing positions rather than opening new ones. Many appear to be exiting leveraged trades to avoid further losses or liquidations.

However, not all market signals point downward. Bitcoin’s funding rate has returned to positive territory at 0.0032%, showing that many futures traders are still opening long positions and expecting a recovery.

The options market reveals more calls than puts for Bitcoin. This suggests bullish sentiment among options traders, as call options typically indicate bets on upward price movement.

Analyst Predictions Point to Bullish Future

Crypto analyst Dave the Wave, known for accurately predicting the 2021 Bitcoin crash, believes BTC is creating a durable base for the next bull market phase. He identified an inverse head-and-shoulders pattern forming on the daily chart.

This pattern is traditionally viewed as a bullish reversal signal. It suggests buyers are no longer waiting for the price to revisit recent lows before accumulating the asset.

Dave the Wave projects Bitcoin will rally close to $89,000 before dropping to support at $77,000. After that, he expects a rally to a new all-time high above $110,000.

“With a push through the first line of resistance, the neckline of a possible BTC reverse [head and shoulders] would be formed… a great basing pattern,” the analyst stated.

With a push through the first line of resistance, the neckline of a possible #btc reverse h&s would be formed… a great basing pattern. pic.twitter.com/L8qfQzohuo

— dave the wave🌊🌓 (@davthewave) April 15, 2025

He maintains that Bitcoin’s long-term uptrend remains intact despite bearish market sentiment. His analysis suggests the current correction is nearing its end.

On-Chain Data Shows Aggressive Bull Positioning

Recent data from Binance, the largest cryptocurrency exchange, shows the Bitcoin Net Taker Volume has remained positive since April 11th. This metric measures the difference between taker buyer and taker seller volume.

A positive value indicates taker buyers outweigh taker sellers on the platform. The consistently green values suggest futures traders are placing aggressive bullish bets.

This shift toward positive sentiment coincides with Bitcoin’s recovery following news of a 90-day pause on tariffs for most countries.

In related developments, the 30-day Bitcoin Market Value to Realized Value (MVRV) Ratio has hit its lowest level in six months. This indicator reflects the profit-loss status of Bitcoin investors.

The declining MVRV suggests holder profitability has decreased. Historically, when this metric reached similar levels last year, Bitcoin formed a price bottom in both instances.

At the time of writing, Bitcoin is trading around $85,800, up more than 8% over the past seven days. This price action, combined with the ETF inflows and analyst predictions, provides a complex but cautiously optimistic picture of the market’s direction.