Bitcoin Taps $65K After ETFs Extend Inflow Hot Streak To 5 Days: Here’s What Technical Analysis Is Saying
Bitcoin (CRYPTO: BTC) tapped the $65,000 mark in Thursday trading and is up 1.7% over the past 24 hours off the back of another strong day of ETF inflows on Wednesday.
What Happened: Bitcoin spot ETFs on Sep. 25 recorded a net inflow of $106 million, marking five consecutive days of positive inflows, according to data from SoSo Value.
BlackRock‘s Bitcoin ETF, (NASDAQ:IBIT), reported a particularly strong inflow of $184 million, indicating robust demand. Cumulative net inflows are approaching the $18 billion mark, currently at $17.94 billion.
Similarly, Ethereum (CRYPTO: ETH) spot ETFs attracted net inflows totaling $43.2 million, with Grayscale’s ETF (NYSE:ETHE) alone contributing $26.6 million.
What Options Data Is Saying: These inflows come at a time when over $5.8 billion worth of Bitcoin quarterly options are set to expire on Friday.
This expiry is the second-largest by open interest to date, and market analysts anticipate increased volatility as traders adjust their positions.
“This event is expected to trigger increased market volatility as traders either close or roll over their positions,” Illia Otychenko, Lead Analyst at CEX.IO told Benzinga.
Most of the volume for the Sep. 27 expiry is centered around the $65,000 strike price.
However, open interest …
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