- Bitcoin ETFs saw a massive $422.5M inflow on May 1, led by BlackRock’s IBIT, signaling renewed institutional confidence.
- BTC surged to $97,360, and analysts say a breakout above $97K could push it toward the $100K mark.
Bitcoin is once again capturing headlines, as U.S. Spot Bitcoin ETFs recorded a powerful $422.5 million net inflow on May 1—marking a sharp reversal from the previous day’s outflows and reigniting investor optimism. Leading the surge was BlackRock’s IBIT, which drew an impressive $351.4 million, followed by Bitwise’s BITB with $38.4 million and Fidelity’s FBTC adding $29.5 million. Even Grayscale’s GBTC, which has faced steady outflows in recent months, saw a rare $16 million inflow.
The renewed ETF momentum coincides with Bitcoin’s climb to $97,360—its highest price since February 22. The surge has intensified speculation about a possible breakout past the $100,000 mark, with many analysts eyeing the $97K level as a crucial resistance point.
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Just a day earlier, sentiment seemed to be cooling, as ETFs posted $56.3 million in combined outflows. But May 1’s robust inflows have flipped the narrative, suggesting that institutions remain bullish on Bitcoin’s long-term potential despite macroeconomic headwinds and regulatory uncertainty.
According to data from Farside Investors, total net inflows into U.S. Spot Bitcoin ETFs have now surpassed $39 billion since their debut—a remarkable milestone that underscores the growing institutional adoption of the asset class.
Analysts are now closely watching the $97K threshold. A breakout above this level, according to a recent Matrixport report, could propel Bitcoin to as high as $106K. The order book shows heavy liquidity clustering just below this point, which may either stall the rally or, if broken, catalyze the next major leg up.
As institutional flows regain strength and market sentiment swings back to the upside, all eyes are on Bitcoin’s next move—whether it’s a consolidation under resistance or a decisive breakout toward six-figure territory.
