Bitcoin ETFs See $675 Million in Inflows as US Government Remains Hesitant
Bitcoin spot ETFs saw net inflows of $675 million on May 2, 2025, with no outflows across twelve Bitcoin ETFs, marking a strong performance. Ethereum ETFs also experienced inflows of $20.1 million across nine funds.
Michael Saylor, Chairman of MicroStrategy, claimed IBIT could become the largest ETF in ten years. Bloomberg's Senior ETF Analyst Eric Balchunas noted that achieving this would require inflows exceeding $1 billion daily, ideally between $3 to $4 billion.
In contrast, Arthur Hayes, co-founder of BitMEX, stated the US government is unlikely to expand its Bitcoin holdings beyond those seized via law enforcement, highlighting political challenges surrounding a strategic reserve.
As of May 3, Bitcoin traded at $96,251.58, down 0.34% in 24 hours. The RSI is at 67.87, indicating potential overbought conditions. The MACD shows bullish momentum but suggests increasing selling pressure. Price has surpassed the 0.786 Fibonacci retracement level and could break out above recent highs if it closes above resistance levels. Key support is at $90,987.26, with deeper levels at $87,868.57 and $85,347.98 if a retracement occurs.
BTC Daily Chart | Source: TradingView