The cryptocurrency market is approaching the close of March with a positive outlook. Bitcoin is trying to hold the $70,000 level and Ether is trying to hold the $3,500 level in the cryptocurrency market, which will close the month two days later. Money inflows to altcoins continue.
Things are going well in spot Bitcoin ETFs, which contribute to the positive outlook of the market. According to March 28 data, net inflows to spot ETFs amounted to $ 183 million.
Spot Bitcoin ETFs are about to end the week with money inflows
The cryptocurrency market continues to be active on March 29. Bitcoin is flirting with the $70,000 level, while Ether is trying to protect $3,500. The activity in the market is interpreted through many arguments. One of these interpretations is based on spot Bitcoin ETFs.
Spot Bitcoin ETFs, called bullish indicator, potential data or appetite measurement, continue their positive course in the last trading week of the month.
According to data from SosoValue, net inflows into spot Bitcoin ETFs totaled $183 million on March 28. Thus, there were net inflows to spot ETFs on all four trading days of the week.
According to the data, BlackRock again took the lead in spot ETFs that displayed a positive image. Net outflows from Grayscale's ETF product GBTC amounted to 104.85 million dollars. BlackRock's IBIT product compensated for the classic GBTC outflow. IBIT witnessed a net inflow of $95.12 million.
Fidelity's FBTC product had a net inflow of $68.09 million, while Bitwise's BITB product realized a net inflow of $67.12 million.
Thus, on the fourth trading day, the outlook was in the direction of net money inflows. The data for the last trading day of the week was a matter of curiosity. If the March 29 data is also positive, spot ETFs will close March strongly. BTC, on the other hand, creates a stable price chart in the light of the data.
