Bitcoin ETFs Regain Momentum with Half a Billion Dollars in Inflows Post-Christmas

• Bitcoin ETFs regain momentum after Christmas break, with nearly half a billion dollars in inflows
• Fidelity’s FBTC leads the inflows, followed by Ark’s ARKB ETF
• Bitcoin trades below $95k, tested key resistance zones multiple times in December

Following several days of negative results, Bitcoin ETFs appear to have regained momentum as we head towards the end of 2024. 

From December 19 to December 24, the collective of spot Bitcoin ETFs summed up over $1.5 billion in outflows—the most ever recorded in a week. Adding to that, BTC ETFs hadn’t seen a 4-day outflow streak in almost 3 months with the last time being on September 6th. 

During that same timeframe, Bitcoin entered a week-long bearish trend, losing over 12% of its value.

But the ETF story changed after the Christmas break on December 26th. On that date, Bitcoin ETFs recorded nearly half a billion dollars in inflows. This movement was led by Fidelity’s FBTC which saw $254.4 million inflows. Coming in second place, Ark’s ARKB ETF saw $186.9 million in inflows.

VanEck’s HODL and Grayscale’s BTC saw minimal inflows of less than $10 million, while the largest Bitcoin ETF by market capitalization, Blackrock’s IBIT saw $56.5 million in inflows. 

So far, the highest single-day inflows recorded in December belong to IBIT with $770 million in inflows on December 5. Meanwhile, the highest outflow also belongs to Blackrock with $188 million disbursements on December 24.

Bitcoin Drops Below $95,000

The bull run slowdown has also affected the Bitcoin market, with the asset dropping below the $95k margin for the first time since December 20th. At this time of writing, BTC trades at $94,132, down 1.6% according to CoinMarketCap. 

Interestingly, the current price zone the asset trades at right now has proven a reliable resistance zone, with buyers refusing to dip below $92k. Throughout December, this zone was tested five times, with each rebuttal causing a response of at least a 5% surge in value.

The market has undeniably slowed down over the past few days as the end-of-the-year festivities started to take place. Despite this, many believe in a continuation of the bullish trend once January arrives.