Bitcoin’s (BTC) worth broke above $51,000 on Feb. 14 to kind a uncommon Valentine’s Day profitable sample, whereas ETF fund inflows recommend a attainable $55,000 retest.
Bitcoin made historical past on Valentine’s Day as BTC costs rose to a new-yearly peak of $52,040 inside the every day timeframe on Feb. 14.
Bitcoin enters five-year Valentine’s Day profitable streak
Due to an unusually excessive shopping for development amongst institutional traders, BTC worth crossed the $52,000 mark for the primary time since 2021, bringing its month-to-date features to twenty%.
The information reveals that Bitcoin worth has generated 1.3%, 3.03%, 1.13%, and 1.9% features within the final 4 Valentine’s Days, respectively, courting again to 2020.
BTC worth rallied 3.66% to peak at $52,040 inside the every day timeframe on Feb. 14, extending its Valentine’s profitable streak to 5 consecutive years.
![Bitcoin (BTC) Price performance, Valentines day 2024](https://crypto.news/app/uploads/2024/02/image-25.png)
Breaking it down additional, beginning in 2020, holders who purchased a BTC the evening earlier than Valentine’s Day and offered it at midnight would have earned a complete revenue of $4,196.
Wanting past the value charts, BTC spot ETFs have acquired vital capital inflows this week, which might drive the rally towards $55,000.
Bitcoin ETFs AUM crosses $10 billion
In one other bullish Valentine’s Day file, BTC spot ETFs noticed a file $631 million in web inflows. Because the preliminary uncertainty heralded the Grayscale’s (GBTC) billion-dollar sell-off cools, traders have intensified capital inflows within the spot ETF derivatives merchandise this week.
As of Feb. 14, the cumulative Asset Underneath Administration (AUM) of all 10 newly-launched spot ETF merchandise has hit $10.9 billion.
![Bitcoin (BTC) Spot ETFs Asset Under Management](https://crypto.news/app/uploads/2024/02/image-26.png)
The ETF entities captured in TheBlock’s computation embody BlackRock, Constancy, ARK Make investments/21Shares, Bitwise, Franklin, Invesco/Galaxy, VanEck, Valkyrie, WisdomTree, and Hashdex.
On the finish of the primary buying and selling day on Jan. 11, the whole AUM of those corporations stood at $851 million. This suggests the capital inventory has grown by 1,150% during the last 31 days at a cumulative every day progress charge of about 9.2%, or $77 million every day.
Successfully, the chart reveals that traders are rising extra assured after an preliminary few weeks of uncertainty, mirrored within the accelerated capital inflows.
If this shopping for development continues at its present charge, BTC worth seems poised to enter one other leg-up in direction of the $55,000 space within the coming days.