Odaily Planet Daily reports, according to SoSoValue data monitoring, on April 24, Bitcoin spot ETFs recorded their ninth consecutive trading day of net inflows, with a single-day inflow of $14.45 million. This sustained inflow period has accumulated approximately $2.1 billion, marking the longest net inflow streak since September 2025. Last week, ETFs saw cumulative inflows of $823.7 million, with BlackRock’s IBIT recording weekly inflows of $983 million—the highest in nearly six months.
Ki Young Ju, founder of CryptoQuant, stated that the current Bitcoin market is driven by futures, with open interest continuing to rise; however, on-chain apparent demand remains negative except for ETF inflows and MicroStrategy purchases. CEX.IO’s chief analyst noted that the recent price rally has been clearly driven by short liquidations, with total short liquidations amounting to approximately $2.8 billion since April 13, significantly exceeding long liquidations of $1.8 billion. Some ETF demand may stem from calendar arbitrage trades—buying IBIT while shorting CME futures to capture the spread—a market-neutral strategy that is not purely bullish. Currently, the 25-delta skew in the options market is in negative territory, indicating that investors are paying a premium for downside protection.