TechFlow reports that on April 1, Bitfinex released a report indicating that BTC ETFs recorded net inflows of $69.4 million and $114 million on March 30 and March 31, respectively—ending the previous two-week streak of outflows. However, inflows remained structurally concentrated in ARK Invest’s ARKB and Fidelity’s FBTC, while BlackRock’s IBIT saw only limited capital returning, reflecting continued institutional caution.
Additionally, funding rates in the derivatives market remained negative for most of Q1, signaling an ongoing dominance of short positions and traders’ continued willingness to pay for downside protection. A dense liquidation zone currently exists below ~$66,500 for Bitcoin; an upward price move could trigger a short squeeze. Overall, however, market confidence in this rally remains weak.
