Fidelity’s Bitcoin ETF Pulls in $48M While Bitcoin Gains 12%
Fidelity’s FBTC ETF logged $48.01 million of inflows during the first week of March, part of nearly $800 million poured into U.S. Bitcoin ETFs as Bitcoin surged 12% while gold dropped 2%. Bitcoin reclaimed the 20-day EMA at $69,221 and is eyeing resistance at its 50-day EMA of $74,352.
1. ETF Inflow Details
Fidelity’s FBTC ETF saw $48.01 million in inflows from March 2 to March 4, contributing to nearly $800 million channeled into U.S. Bitcoin ETFs this month. BlackRock’s IBIT led with $155.31 million on March 4, while Grayscale’s GBTC added $21.64 million, underscoring strong institutional demand.
2. Bitcoin vs. Gold Performance
Bitcoin rallied 12% since last Friday, outpacing a 2% decline in gold and signaling a shift in investor safe-haven preferences. The rally follows Bitcoin’s earlier 40% plunge from its October peak of $126,000 and highlights renewed bullish sentiment amid market volatility.
3. Technical Resistance and Support Levels
Bitcoin’s price reclaimed the 20-day EMA at $69,221 and is now targeting its 50-day EMA at $74,352. Key resistance sits at the upper Keltner Channel of $76,348 and the psychological $75,000 mark, while support remains at the $60,000–$65,000 zone and the 20-day EMA.