TLDR
- U.S. spot Bitcoin ETFs recorded $2.10 billion in net inflows over eight consecutive trading days through April 23.
- BlackRock’s IBIT led the inflows with $167.49 million on April 23, while Fidelity’s FBTC posted a $16.93 million outflow.
- Total cumulative net inflows into Bitcoin ETFs since launch have reached $58 billion, with assets under management at $102 billion.
- Bitcoin’s price rose from $68,000 to $77,000 during the inflow streak, marking a 12% increase.
- Glassnode reported that Bitcoin reclaimed its True Market Mean at $78,100 for the first time since mid-January.
U.S. spot Bitcoin ETFs recorded $2.10 billion in net inflows over eight consecutive sessions through April 23. Meanwhile, blockchain data showed short-term holders increased realized profits as prices approached key cost levels. Bitcoin traded between $68,000 and $78,000 during the same period, reflecting a 12% rise.
Bitcoin ETFs Extend Inflow Streak to 8-Days
Bitcoin ETFs logged their longest inflow run since October 2025, according to SoSoValue data. The eight-day stretch brought total net inflows of $2.10 billion through April 23. On April 23 alone, funds added $223.21 million in fresh capital.
BlackRock’s IBIT accounted for $167.49 million of that daily total. Fidelity’s FBTC posted the only meaningful outflow, which reached $16.93 million. Other issuers recorded mixed but smaller movements during the session.
Cumulative net inflows since launch now stand at $58 billion. Total assets under management reached $102 billion, which equals 6.5% of Bitcoin’s market capitalization. March also saw a seven-day inflow streak that ended during a local price high.
Short-term Holders Increase Realized Profits Near $80,100
Glassnode reported that Bitcoin reclaimed its “True Market Mean” at $78,100 earlier this week. The firm defines this metric as the average cost basis of actively transacted supply. This marks the first recovery of that level since mid-January.
Glassnode also identified the Short-Term Holder Cost Basis at $80,100. This level reflects the average purchase price for coins held less than 155 days. A move above it would place over 54% of recent buyers in profit.
Historical cycle data shows that price interactions with this threshold have aligned with local tops. In prior instances this cycle, short-term holders sold into strength near that cost basis. The structure appeared once before this year, and the price failed to sustain gains.
Short-term holders realized a profit of $4.4 million per hour, according to Glassnode. The firm stated that the $1.5 million level preceded each local top in 2025. The current rate stands nearly three times that benchmark.
Funding rates on Bitcoin perpetual futures remain negative, which means short sellers pay long positions. A short squeeze on Saturday briefly pushed Bitcoin to $78,000. Price later reversed following geopolitical headlines tied to the Strait of Hormuz.
Market data showed that IBIT carried most of the recent ETF inflows. Smaller issuers posted uneven flows during the same window. Bitcoin traded near $77,000 at the latest reading, as ETF inflows and holder distribution converged.
