The cryptocurrency market rebounded sharply as geopolitical tensions eased, driving renewed investor interest in Bitcoin and Ethereum ETFs. Following a US-brokered ceasefire agreement between Israel and Iran, crypto assets surged as market sentiment flipped bullish across major exchanges.
According to Soso Value data, spot Bitcoin and Ethereum ETF net inflows were recorded at $660M. This wave of capital was an indication of how institutional faith returned with a bang, and the eleventh consecutive day of net inflows in spot Bitcoin ETFs.
Bitcoin ETF Inflows Lead Institutional Surge
Most inflows were done on Bitcoin ETFs with a daily record of $588.55 million. BlackRock IBIT was leading in activities as it took $436.32 million within a day. This helped push IBIT June inflow to a new record of $1.23 billion, highlighting the role of BlackRock in dominating the market for ETFs.
Other firms such as Fidelity, Ark Invest, Grayscale, and Bitwise also saw significant contributions to Bitcoin ETF volume. The consistent inflow trend highlights increased institutional demand, especially as geopolitical concerns ease and monetary policy outlooks improve.
The price of Bitcoin reacted similarly, increasing 8.6 % in a week and reversing losses that it incurred this week because of the bearish breakdown that occurred last week. At the time of writing, it was trading at over $106,000, proving to be resilient and spearheading the broader crypto market rally.
Ethereum ETFs Gain Momentum Despite Mixed Flows
The inflows into Ethereum ETFs were $71.23 million, which indicates the high demand for ETH exposure among investors. BlackRock ETHA topped the rally, reporting a net inflow of $97.97 million. This in itself countered a $26.74 million outflow in Fidelity FETH equivalent, making the flows of Ethereum ETFs positive in general.
The ETH price also appreciated more compared to Bitcoin because it was up by 17.64% last week. Technical indicators favored the price direction, the hourly MACD was bullish, and RSI indicated the possibility of an upward rebound in the RSI oversold area.
Concurrently, wallet activity in whales proved that this was true in both Bitcoin and Ethereum. Increased tightening in the supply, as indicated in blockchain data, solidifies bullish sentiment among the longer-term holders and institutional players.
The overall cryptocurrency market capitalization increased by 9.9 percent and went up to the value of $3.24 trillion. As inflows persist and sentiment starts improving, traders are keeping a close eye on additional capital rotation in digital asset ETFs.
