Bitcoin Breaks $75,000 Mark as ETFs Net $1.5B Inflows
Bitcoin jumped past the $75,000 mark in mid-March, marking a nearly 14% gain since late February while oil surged over 40% and gold slid 5% this month. US spot Bitcoin ETFs attracted roughly $1.5 billion in March, and traders unwound nearly $1.5 billion of put options, driving prices higher.
1. Bitcoin Price Surge
Bitcoin rallied through the $75,000 threshold in mid-March, achieving nearly a 14% gain since late February. This performance contrasted with a 40% jump in crude oil and a 5% drop in gold over the same period.
2. ETF Inflows and Options Unwinding
US-listed spot Bitcoin ETFs recorded approximately $1.5 billion of net inflows in March, as institutional buyers absorbed dips. Simultaneously, traders closed out about $1.5 billion of put options clustered around the $60,000 strike, reducing downside hedging pressure and prompting market-makers to purchase Bitcoin.