TechFlow reported on March 24 that QCP Capital's latest analysis showed last week’s net inflows into spot Bitcoin exchange-traded funds (ETFs) reached 8,775 BTC (approximately $744 million), reversing the previous weeks’ trend of net outflows.
Driven by this capital inflow, the cryptocurrency market saw a modest weekend rebound, with Bitcoin and Ethereum reclaiming the $85,000 and $2,000 levels respectively. The Crypto Fear & Greed Index improved from 32% last week to 45% this week, indicating a slight easing of market risk aversion.
The analysis suggests this rally may have been primarily driven by genuine spot demand rather than leverage, as perpetual contract open interest remains low and funding rates stay stable. However, QCP remains cautious about sustained upside breakthroughs and warns investors to watch for potential pressure on risk assets due to impending tariff hikes on April 2.
