Bitcoin ETF Daily Inflows Reach $556 Million, BTC Ready to Break

Bitcoin (BTC) exchange-traded funds (ETFs) recorded inflows of $555.86 million last night, according to SoSoValue data.

The asset class, which last rose this much on June 4 with an inflow of $ 886.75 million, saw the highest figure in several months.

According to data from CoinDesk Indices, BTC is up 2.2% in the last 24 hours, a similar increase as the CoinDesk 20 Index, which tracks the performance of the largest digital assets.

As CoinDesk previously reported, a technical indicator called the “three-line breakout chart” shows bitcoin could be on track to surpass $73,000, signaling a return to an uptrend after months of back-and-forth price action.

Prediction market traders have become more optimistic about BTC’s price potential over the past week. The ‘yes’ side of the contract on Polymarket, which addresses whether BTC will reach its all-time high in 2024, started trading at 64 percent with a 9-point increase last week.

On Kalshi, another prediction market, bettors give a 46% chance that the price of bitcoin will reach $75,000 this year. Bitcoin hit an all-time high of over $71,000 in March this year.