Bitcoin fell, so why are institutions buying more?

▲ Bitcoin (BTC)

In the Bitcoin market, where institutional funds seemed to be withdrawing, a large-scale buying trend has reignited, and signs of a rebound are becoming clear.

According to the investment media TradingNews on April 10 (local time), BlackRock's iShares Bitcoin Trust ETF (IBIT) recorded a net inflow of $269.3 million on April 9 alone, marking its largest inflow in the past five weeks. On the same day, a total of $358.1 million flowed into all spot Bitcoin ETFs, instantly reversing the two consecutive days of outflows.

IBIT is currently trading at around $41.56, with cumulative inflows of $1.5 billion since the beginning of the year. This is noteworthy because funds continued to flow in even when the Bitcoin price dropped by approximately 26%, from about $97,000 to $72,000. The market interprets this as institutional funds for long-term holding, not short-term trading.

Fund inflows were evenly distributed across ETFs. Fidelity FBTC recorded $53.3 million, Bitwise ETF $11.7 million, and Ark 21Shares $4.8 million, with most major asset managers showing simultaneous net inflows. This is interpreted as a signal of expanding institutional demand across the market, not limited to a specific ETF.

In particular, Morgan Stanley's Bitcoin Trust (MSBT), launched by Morgan Stanley, saw an inflow of $14.9 million within two days of its listing, marking the most successful ETF launch in the bank's history. Morgan Stanley is also reportedly preparing to launch Ethereum spot ETFs and Solana ETFs in the future, raising expectations for an expansion of institutional fund inflow channels.

Bitcoin's technical trend shows mixed signals. The Moving Average Convergence Divergence (MACD) maintains an upward signal, but short-term momentum indicators are weakening, making the breakthrough of resistance around $73,000 a key variable. On the other hand, the easing of Middle East tensions has lowered oil prices and inflation pressure, and increased expectations for interest rate cuts are creating a positive environment for risk assets in general.

The market evaluates this ETF fund inflow not as a simple rebound but as a signal of structural demand recovery. Given that ETF funds have already entered a recovery phase despite Bitcoin's price still being below its peak, there is a possibility that additional fund inflows will accelerate during future price appreciation phases.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*