Bitcoin exchange-traded funds (ETFs) experienced another round of capital inflows on Monday, attracting over $500 million in new investments and marking seven consecutive days of positive flows. This ongoing trend highlights the increasing interest from investors seeking exposure to BTC through regulated investment products, even amidst broader market fluctuations.

On Monday, BTC spot ETFs garnered significant attention from investors, with net inflows totaling $591.29 million. This marked the continuation of a winning streak that has now extended for seven consecutive days. During this time, the leading cryptocurrency has been trading above the $94,000 mark, seeking stable support at this level.

Among the various BTC spot ETFs, BlackRock’s iShares Bitcoin Trust (IBIT) once again led the pack, registering the highest inflows among its competitors. The fund accumulated $970.93 million in inflows on Monday, raising its cumulative net inflows since inception to $42.17 billion.

In contrast, ARKB, the BTC spot ETF managed by Ark Invest and 21Shares, witnessed the largest net outflow on the previous day. On Monday, $226.30 million left the fund. Despite this withdrawal, ARKB’s overall historical net inflow remains at $2.88 billion.

The open interest in BTC’s futures market increased by 2% over the last day, reflecting a rise in the number of outstanding futures contracts. Concurrently, the price of the leading cryptocurrency registered a slight 0.14% gain during the same period.

An increase in open interest typically signifies that more traders are initiating new positions rather than closing existing ones. This bullish indicator could potentially bolster BTC's price rally in the near term.

As of this writing, the funding rate for BTC stands at 0%, indicating a balanced equilibrium between long and short positions in the perpetual futures market. Such a neutral funding rate implies that neither bulls nor bears currently dominate the market. Consequently, the probability of sudden liquidations diminishes, suggesting that any substantial price movement would likely require fresh impetus rather than being driven by leverage-induced squeezes.

Meanwhile, the sentiment among BTC options traders is evident. The high demand for put options today signals a more cautious or bearish outlook among options traders. The rising interest in these bearish contracts suggests that numerous investors anticipate a possible correction in BTC's price, despite the recent influx into Bitcoin ETFs.

Until a decisive breakout or breakdown occurs, BTC might continue to consolidate within a narrow range.

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