US-listed Bitcoin spot exchange-traded fund (ETF) registered net inflows totaling $260.27 millions, continuing a positive trend for capital movements into digital assets.
Open interest is now down 5% at $29.47 Billion, a significant drop from the recent weeks, as Bitcoin struggled to overcome key resistance levels.
Investors are now more conservative after a period of increased institutional interest.
Bitcoin’s price ranged between $102,711 to $104,971.
The softer demand in ETFs is likely due to this consolidation phase.
This lower figure reflects macroeconomic uncertainty, as traders are reacting to rate policy changes globally and to mixed inflation figures across major markets.
BTC trades sideways near $103K
Bitcoin’s indecisive price movement has tempered some of the previous aggressive purchases.
BTC traded at around $102,969 on 19 May.
The strong resistance overhead is dampening the short-term movement despite some breakouts.
Although ETFs are still a popular way for institutions to gain exposure to crypto, the inflow last week of $260.27 millions highlights that enthusiasm has cooled compared with previous figures which had exceeded $900 million.
Investors may wait until a trend is more clearly defined before investing new capital due to technical indecision.
Market watchers have noted that investors have shifted their focus to other altcoins, and projects on layer-2. These have displayed a stronger relative performance in recent sessions.
Derivatives activities
Data from the derivatives markets indicate that bullish sentiment is still present despite slower ETF flows.
The open interest in futures fell 5%, to $29.47 Billion.
The data on the options market also shows a positive bias. Demand for call options was higher than for puts on 16 May. This indicates that traders were positioning themselves for an upswing.
Some investors expect a surge to $110,000.
Analysts warn, however, that leveraged position may cause volatility to increase, particularly if BTC does not hold at or above $100,000 over the next few days.
The key is to maintain resistance levels for the next move
Bitcoin’s direction in the near term depends on its ability break through resistance at $105,000.
Volume and a convincing rise above this level could re-ignite ETF flows, as well as validate bullish positions in the derivatives markets.
Institutional interest could continue to be moderate until then.
The broader trend of 2025 reflects institutional acceptance for Bitcoin, despite the recent drop in net ETF flow.
Asset managers can now gain exposure to spot products without having to deal with the regulatory or custody issues.
BTC is hovering near $102,969 and the market waits for a more clear breakout or break-down.
Next move will determine if this is just a temporary pause or a sign that a larger cooling trend has begun.
The post Bitcoin ETF Open Interest Dips 5% to $29,47B As BTC Holds Near $102,9K may be updated as new information unfolds.
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