Bitcoin Spot ETFs See Net Inflows for 9 Consecutive Days, Total Inflows Reaching Approximately $2.1 Billion
according to data monitoring from SoSoValue, Bitcoin spot ETFs recorded net inflows for the 9th consecutive trading day on April 24, with a single-day inflow of $14.45 million. The total cumulative inflows during this continuous period amounted to approximately $2.1 billion, marking the longest net inflow streak since September 2025. Last week, ETFs saw total inflows of $823.7 million, with BlackRock's IBIT recording weekly inflows of $983 million, hitting a new high in nearly six months.CryptoQuant founder Ki Young Ju stated that the current Bitcoin market is driven by futures, with open interest continuing to rise. However, aside from ETF inflows and MicroStrategy purchases, on-chain apparent demand remains negative. The chief analyst at CEX.IO pointed out that the recent price increase has been notably driven by short squeezes. Since April 13, the total amount of short liquidations has reached approximately $2.8 billion, far exceeding the $1.8 billion in long liquidations. Part of the ETF demand may stem from basis trading strategies, specifically buying IBIT while shorting CME futures to capture the spread. This strategy is market-neutral and not purely bullish. Currently, the options market's 25-delta skew is in negative territory, indicating that investors are paying a premium to seek downside protection.
