In a notable trend within the cryptocurrency market, U.S. spot Bitcoin Exchange-Traded Funds (ETFs) have experienced five consecutive weeks of positive inflows, signaling a resurgence in institutional interest and demand. The net inflows for the week ending May 6 reached an impressive $1.05 billion, cumulatively totaling around $3.8 billion over the streak, according to data from SoSoValue. The total net assets held by U.S. spot ETFs have now reached a record high of $108.76 billion.
Despite a slight downturn in Bitcoin’s price, which has dropped by 1.3% to approximately $81,100 as reported by CoinGecko, the cryptocurrency has faced fluctuations following news of a peace deal between the U.S. and Iran. This situation previously propelled Bitcoin to a local peak of $82,500 earlier in the week.
Reasons behind the renewed institutional demand are varied, as noted by Jeff Mei, COO of BTSE. He identifies three main factors: the anticipated resolution of U.S.-Iran hostilities, a rally in artificial intelligence-driven equities, and expected cryptocurrency legislation from Washington. Among these, the potential passage of the CLARITY Act stands out as especially influential, as it is expected to ease regulatory burdens and promote broader cryptocurrency adoption.
Supporting this positive trend is a shift in derivatives and options market positioning. According to a Thursday report from Glassnode, the 25-delta skew—which reflects the premium traders pay for protective puts—is compressing toward neutrality, with the one-week skew approaching zero. This indicates an unwinding of the protective stance that had been prevalent in recent months.
Moreover, Bitcoin has regained two significant on-chain thresholds, specifically the True Market Mean at $78,200 and the Short-Term Holder Cost Basis at $79,100. These levels represent the average acquisition cost of actively traded supply, suggesting a consolidation of value in this range. The next notable supply zone is identified near the Active Realized Price at $85,200.
The continued inflows into Bitcoin ETFs bear structural significance, even when accounting for institutional hedging activities. Andri Fauzan Adziima, research lead at Bitrue Research Institute, emphasized that the net effect reflects genuine spot demand that may lead to tighter supply in the market. He ultimately views this trend as indicative of market maturity rather than any dilution of bullish sentiment.
Looking ahead, Bitcoin appears to be maintaining its foothold as a strong performer against traditional assets, even amid persistent geopolitical uncertainty. Optimism remains palpable among users on the prediction market Myriad, which indicates an 86% likelihood that Bitcoin’s next significant movement could push it to $84,000, far outperforming a threshold of $55,000.
