Bitcoin Soars 12% with $800 Million ETF Inflows; Grayscale Trust Draws $21.6M
Bitcoin surged 12% since last Friday while gold fell 2%, as U.S. Bitcoin ETFs saw nearly $800 million inflows in March, led by BlackRock’s Bitcoin ETF. Grayscale’s GBTC attracted $21.64 million, and Bitcoin trades above its 20-day EMA at $69,221 with resistance at the 50-day EMA of $74,352.
1. Bitcoin Outperforms Gold with 12% Rally
Since last Friday, Bitcoin surged 12% while gold slid 2%, reversing months of underperformance and signaling a shift in investor preference towards digital assets.
2. U.S. Bitcoin ETFs Attract $800 Million
U.S. Bitcoin spot ETFs recorded nearly $800 million of inflows in March, with contributions of $458.19 million on March 2 and $225.15 million on March 3.
3. Grayscale's Bitcoin Trust Draws $21.64 Million
Grayscale’s Bitcoin Trust attracted $21.64 million of March inflows, trailing BlackRock’s Bitcoin ETF at $155.31 million and Fidelity’s at $48.01 million.
4. Technical Levels Signal Bullish Momentum
Bitcoin trades above its 20-day EMA at $69,221 and is targeting the 50-day EMA at $74,352, with a $60,000–$65,000 support zone holding during February and upper Keltner channel resistance near $76,348.