Spot Bitcoin ETFs drew $667 million in net inflows on May 19 amid an approaching “golden cross” that hints at long-term bullish momentum.
Despite a short-term correction in Bitcoin’s BTC $66 257 24h volatility: 2.7% Market cap: $1.32 T Vol. 24h: $41.83 B price on Monday, institutional interest remained strong. Spot Bitcoin exchange-traded funds (ETFs) saw a massive $667 million in net inflows on May 19, signaling strategic approach to market dips.
Notably, in the past month, outflows were recorded on only three trading days. Currently, the funds are experiencing a four-day streak of net inflows, as the Crypto Fear and Greed Index edges deeper into “greed” levels.
On Monday, BlackRock’s IBIT led the inflow, attracting $306 million. This dominant contributor has now accumulated roughly $6.5 billion in total inflows since launch. In just the last four trading days, the ETF added another $1.1 billion to its tally.
Other top ETFs also showed robust inflows. Fidelity’s FBTC brought in $188 million, while Ark Invest’s ARKB attracted $155 million, according to Farside Investors. These inflows led to a 3% BTC price recovery from Monday’s dip.
Analysts Suggest Bullish Momentum
Analysts believe this bullish momentum may continue. Popular crypto analyst Benjamin Cowen noted that Bitcoin is on the verge of a “golden cross,” a technical indicator where the 50-day SMA crosses above the 200-day SMA. This formation historically suggests a strong long-term upward trend.
#Bitcon golden cross should occur in a few days. Will probably make a video soon discussing this and looking back at historical moves following it pic.twitter.com/qRqIweAopD
— Benjamin Cowen (@intocryptoverse) May 20, 2025
At the time of writing, Bitcoin is trading just below its peak, leading to concerns of a double-top reversal if BTC climbed past $107,000. Swissblock Technologies, a private wealth firm, dismissed these “noises,” stating that Bitcoin’s trend remains “intact.”
A lot of noise about a potential double top as $BTC struggles to break ATH.
🔹But the BFI tells a different story: no signs of bearish divergence.
🔹If this were a real double top, BFI would be breaking down.
🔹Even during the Feb–Mar pullback, it held neutral, never dipped into… pic.twitter.com/pKli16OgPs— Swissblock (@swissblock__) May 20, 2025
The firm’s Bitcoin Fundamental Index (BFI), which aggregates key trend metrics, continues to hold steady in the neutral zone. According to Swissblock, a real reversal would have already caused the index to drop to weaker levels.
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