Bitcoin Price Prediction: How ETF Inflows Affect BTC Price

Bitcoin (BTC) price depicts increasing uncertainty, but positive ETF inflows could augment the uptrend this weekend. As sentiment improves following positive inflation data based on the US CPI report, widespread gains are expected across top altcoins like Solana (SOL) and Ethereum (ETH).

Bitcoin Price Market Movers: BTC ETF Inflows Continue, BlackRock Flips Grayscale, Options Volume Spikes

• Bitcoin price held firmly above $58,000 in the wake of positive ETF inflows, as per SoSoValue data. Investors steadied their risk appetite, pumping Bitcoin ETFs with $11.11 million in daily total net inflow. Combined, the 12 ETF operators account for $17.33 billion of the cumulative total network. Bitcoin ETF inflows will continue bolstering the bullish outlook.

• BlackRock’s ETF comprising IBIT and ETHA has consistently outperformed other products, with its latest net positive streak toppling funds managed by Grayscale for the first time ever. According to Arkham, a blockchain data research company, BlackRock boasts $21.21 billion in managed ETF assets compared to Grayscale’s $21.2 billion held in GBTC, BTC Mini, ETHE, and ETH Mini.

BLACKROCK ETF HOLDINGS OVERTAKE GRAYSCALE FOR THE FIRST TIME

BlackRock’s ETFs IBIT and ETHA have just overtaken Grayscale’s ETFs GBTC, BTC Mini, ETHE and ETH Mini in on-chain holdings.

Blackrock ETFs now have the largest collective holdings of any provider.

BlackRock ETF… pic.twitter.com/PB41LEGc97

— Arkham (@ArkhamIntel) August 16, 2024

• While positive Bitcoin ETF volume is a positive factor for BTC price, mixed signals from the derivatives market may impede short-term growth. Bitcoin price futures open interest contracted by 2% to $29.41B, while options open interest shed 4.32% to $20.19B on Coinglass. Despite this, trading volume surges 28% to $74.91B.

• Remember, increasing volume with declining open interest (OI) and options OI hint at a potential market top or distribution phase for Bitcoin. This could lead to increased Bitcoin price volatility and a potential correction.

Bitcoin Price Prediction: BTC Poised To Breakout

Bitcoin price is expected to gain momentum with positive ETF inflows, which increase demand. It holds above the previous day’s open and sits within a larger rectangle pattern likely to ignite a modest 8% breakout to $66,376 if resistance at $62,000 is broken. The 61.8% Fibonacci level strengthens the rectangle support at $56,930, implying BTC price forecast is still in a safe zone to make a resounding recovery.

With the crypto fear and greed index at 27 highlighting fear, smart investors will continue to buy the dips, anticipating a larger breakout. This explains the BTC ETF inflows in the last week.

Nonetheless, the Bitcoin price recovery attempt must brace for potential selling pressure between $63,800 and $65,540. According to the IOMAP model, the 1.62 million addresses that bought 941.32k BTC in this range may choose to sell at respective breakeven points, pausing or blocking the rally to $70,000. On the downside, support seems to be shrinking with the most robust highlighted around $55,843.

Frequently Asked Questions (FAQs)

1. How do ETF inflows affect BTC price?

Bitcoin ETF inflows increase demand for BTC on-chain, building momentum for growth.

2. Will Bitcoin hit ATH courtesy of the ETF?

If demand for ETFs increases and other factors like sentiment improve, BTC will rally to surpass ATH.

3. Which are the levels to watch in August?

Traders need to watch for $58,000, and $55,000 support as well as $62,000 and $64,000 resistance.

✓ Share:

• TAGS
• Bitcoin (BTC) Price

• Trending
• Price Analysis

• Coinbase Urges Court to Sanction SEC Over Missing Gensler Texts
• Breaking: $9T BlackRock Plans To Tokenize ETFs Following Bitcoin ETF Success
• Bitcoin’s Bull Cycle May Peak This Month, Peter Brandt Says
• Ethereum Whales Buy $204M ETH Amid Rebound Above $4,400
• SOL Rises as Nasdaq-listed Forward Completes $1.65B Raise For Solana Treasury

• SHIB Price Forecast as LEASH V2 Rollout Expands Cross-Chain — Is a 200% Rally Ahead?
• BNB Price Forecast as Binance–Franklin Templeton Deal Strengthens Path to $1,500
• Pi Network Price Wyckoff Theory Signals a Surge as One Whale Keeps Buying
• ETH Price Prediction As Bitmine and SharpLink Continue ETH Buying Spree- Analyst Predicts $7K Next
• AVAX Price Prediction as Avalanche $1B Treasury Gains Momentum – Is $55 in Sight?

Best Crypto Presales To Invest In September 2025 – Top Upcoming Presale Tokens

Best Crypto AI Trading Bots In 2025

Top Meme Coins To Buy In September 2025

John Isige

John is a seasoned crypto expert, renowned for his in-depth analysis and accurate price predictions in the digital asset market. As the Price Prediction Editor for Market Content at CoinGape Media, he is dedicated to delivering valuable insights on price trends and market forecasts. With his extensive experience in the crypto sphere, John has honed his skills in understanding on-chain data analytics, Non-Fungible Tokens (NFTs), Decentralized Finance (DeFi), Centralized Finance (CeFi), and the dynamic metaverse landscape. Through his steadfast reporting, John keeps his audience informed and equipped to navigate the ever-changing crypto market.

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.