Bitcoin spot ETFs, led by BlackRock, saw nearly $500M in inflows on Monday. The market for Bitcoin reaching $100,000 by June 30 trades with increased optimism.
BlackRock’s IBIT ETF led the inflows after five weeks of outflows, signaling a shift in institutional sentiment. This influx aligns with Bitcoin’s rise past $70,000, as tensions in the Middle East ease. The June 30 market, tied to Bitcoin’s $100,000 target, shows renewed bullishness among traders.
ETF inflows suggest returning market confidence, though sentiment gauges like Crypto Fear & Greed remain in “extreme fear.” Despite ongoing US, Israel, and Iran tensions, Bitcoin’s rally suggests traders see reduced escalation risk.
Despite inflows, the 24-hour volume for Bitcoin price target markets is $0, showing a lack of active trading. However, the inflows signal a potential shift in institutional strategy. The largest price move was a 4-point spike, driven by these inflows.
Traders might find contrarian bets appealing. At current odds, a YES share on Bitcoin hitting $100,000 by June 30 could yield significant returns if confidence grows. This bet hinges on sustained institutional interest and further easing of geopolitical tensions.
Watch for announcements from BlackRock, MicroStrategy, and SEC regulatory developments. Changes here could impact market sentiment and odds.
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Disclosure: This article was edited by Estefano Gomez. For more information, see our Editorial Policy. Source
