Bitcoin Surges Past $81,000 as ETF Inflows Hit $530 Million

Bitcoin hits $81,000 as BlackRock’s IBIT leads a $530M ETF inflow. Total market cap climbs to $2.67T amid stabilizing derivative markets.

The total market capitalization has climbed above $2.67 trillion as Bitcoin trades over $80,000, briefly crossing the $81,000 mark. This price action brings the leading cryptocurrency close to key resistance levels amid intensified demand through exchange-traded funds (ETFs).

ETF Inflows Return as a Leading Catalyst

The clearest signal of a shift in short-term momentum comes from the ETF market. On May 4, net inflows into Bitcoin ETFs exceeded $530 million, with the primary contribution coming from BlackRock’s IBIT. This result confirms a positive start to May and marks a sharp reversal from the outflows seen in late April, helping to restore risk appetite.

A similar, though more moderate, dynamic is observed with Ethereum. According to data from Farside Investors, ETH ETF inflows reached $61 million. Institutional interest remains concentrated in the most liquid assets, despite a gradual expansion toward other networks.

Altcoins Gain Momentum Selectively

The market beyond Bitcoin is also showing signs of inertia, though without a large-scale rotation. Solana recorded moderate inflows through ETF structures, while XRP attracted limited but steady institutional interest.

However, the “altcoin season” index remains below neutral levels, suggesting that the market is still dominated by Bitcoin. This is further confirmed by the relative strength of BTC compared to riskier assets, despite higher volatility seen in some alternative coins.

Derivative Markets Cool Down

Alongside the price rise, derivative markets experienced a significant flush, with crypto liquidations reaching $370 million. According to Coinglass data, $223 million of these were short positions.

Funding rates and open interest are stabilizing, signaling that speculative pressure is subsiding—a factor that often precedes more sustainable upward movements.

Market Sentiment: Neutral but Constructive

The Fear and Greed Index remains in neutral territory despite rising prices—a rare combination suggesting the market is not yet overheated. This provides room for additional growth if institutional flows persist.

RSI indicators also remain balanced, confirming a lack of extreme conditions in terms of both overbought or oversold territory.

Outlook: Dependent on Flows and Macro Environment

The short-term direction of the market appears increasingly dependent on ETF flows and macroeconomic signals.

The recovery of capital inflows is a key factor for maintaining current levels, especially for Bitcoin, which continues to act as the primary risk indicator for the crypto sector.

Broadly, the combination of institutional participation, improved liquidity, and reduced leverage creates conditions for a continuing upward trend—though likely with periods of consolidation around key price levels.

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