Investor enthusiasm for Bitcoin continues to mount, with spot Bitcoin ETFs recording an eye-popping $667 million in net inflows on Monday alone. Leading the charge once again is BlackRock’s iShares Bitcoin Trust (IBIT), which absorbed a hefty 2,910 BTC in a single day. This renewed influx of capital is reigniting bullish momentum across the crypto landscape, pushing Bitcoin’s price above the $105,000 mark — and technical indicators are now flashing signs of an imminent “golden cross,” a pattern often associated with major upward trends.
BlackRock Continues to Set the Pace
BlackRock’s IBIT has become the centerpiece of institutional interest in Bitcoin, logging inflows on 23 out of the last 24 trading days. Monday was no exception, as IBIT brought in $306 million, boosting its total holdings to an impressive 636,000 BTC. According to ETF analyst Nate Geraci, the fund has raked in approximately $6.5 billion in total inflows, including over $1.1 billion in just the last four trading sessions — a powerful indicator of sustained investor confidence in BTC’s long-term trajectory.
And it wasn’t just BlackRock making waves. Fidelity’s FBTC and Ark Invest’s ARKB also had standout days, drawing in $188 million and $155 million respectively, according to Farside Investors. Together, these ETF titans helped drive one of the largest single-day surges in institutional Bitcoin purchases in recent memory.
Bitcoin Price Breaks Higher, Short Sellers Feel the Heat
As institutional money flooded in, Bitcoin’s price responded in kind. On Monday, BTC climbed 3% to break through $105,000, reaching a high of $105,565. That move triggered roughly $45 million in liquidations of short positions, according to data from Coinglass, as bearish traders found themselves on the wrong side of the market.
Open interest in Bitcoin derivatives also saw a notable 7% rise, hitting $73 billion — another signal that traders are positioning for increased volatility and potentially significant price movements in the days ahead.
Is the “Golden Cross” Around the Corner?
Fueling further optimism is the formation of a technical pattern that traders have been watching closely: the “golden cross.” This occurs when a shorter-term moving average crosses above a longer-term one, typically the 50-day moving average overtaking the 200-day. According to prominent crypto analyst Benjamin Cowen, Bitcoin is now just days away from confirming this bullish signal — a move that has historically preceded powerful uptrends in BTC’s price.
Adding to the positive momentum is a shift in spot market dynamics. CryptoQuant reports that the spot net volume delta for Bitcoin on Binance has turned positive, indicating renewed accumulation by buyers and a notable drop in selling pressure. This subtle but important metric underscores a healthier market structure, where demand is beginning to outweigh supply — a recipe for higher prices.
Macro Backdrop Adds More Fuel to the Fire
Beyond charts and flows, broader macroeconomic conditions could also be playing into Bitcoin’s favor. Last week, Moody’s downgraded the U.S. credit outlook, citing growing debt burdens and financial vulnerabilities. As traditional investors grow more wary of fiat stability, Bitcoin — often referred to as “digital gold” — is once again emerging as a potential safe haven.
Conclusion: All Eyes on the Breakout
With ETF inflows accelerating, bullish technical patterns forming, and institutional conviction growing stronger by the day, Bitcoin appears to be setting the stage for its next major move. If the golden cross materializes and momentum holds, BTC could be well on its way to retesting — or even surpassing — its all-time highs. For now, traders and investors alike will be watching the charts closely, as Bitcoin’s breakout narrative builds toward a potentially explosive summer.
