U.S. spot Bitcoin ETFs ended a three-day outflow run on March 23, recording $167 million in net inflows. BlackRock’s IBIT drove most of that figure, pulling in $160M on the day alone. The rebound in ETF demand landed the same session BTC held a level traders had been tracking for days.
Bitcoin had pulled back to 68.4K over the weekend before recovering. That retest held, and price climbed back toward 71.4K by Monday, filling the CME gap on the way up.
IBIT Carries the Day
The $167 million headline rested almost entirely on one fund. According to Coin Bureau on X, BlackRock’s IBIT brought in $160M on March 23, snapping three consecutive days of net outflows across the broader Bitcoin ETF category. Ethereum ETFs, Coin Bureau noted on X, kept bleeding into a fourth straight session with no sign of reversal.
The contrast between the two assets was sharp. Bitcoin products drew fresh capital. ETH products did not. That divergence has been one of the more consistent patterns running through late March flow data.
The Price Structure at 71.4K
The chart structure is where focus now sits. According to KillaXBT on X, the 68.4K retest was successfully reclaimed, leading to the CME gap filling and a push up to 71.4K. KillaXBT flagged that level as the first resistance area.
“If the grey box isn’t flipped, a LH will likely form, with the trend heading toward 65.8K. So, quite the key area to observe.”
That framing makes 71.4K a binary moment. The level either gets flipped and holds, or a lower high forms. A failure there sends BTC back toward 65.8K, per KillaXBT’s read on the structure.
The 68.4K retest was the setup. The CME gap fill followed. Now 71.4K sits as the test that determines whether the short-term trend holds or rolls over.
ETH Keeps Bleeding
While Bitcoin ETFs snapped their losing streak, Ethereum products extended theirs. Four straight days of outflows through March 23, as flagged by Coin Bureau on X. The exits have continued despite Bitcoin pulling institutional money back in.
The split between BTC and ETH ETF flows has widened over this stretch. Bitcoin reclaimed 68.4K and attracted fresh demand the same day. Ethereum products saw no similar reversal in flows. The divergence sits open going into the rest of the week.
For Bitcoin, Monday’s inflow number closed the outflow streak but left the structural question at 71.4K unanswered. Whether the grey box flips or a lower high forms from here is what the next few sessions will settle.
Key Takeaways:
- U.S. Bitcoin ETFs drew $167M on March 23, with BlackRock’s IBIT accounting for $160M, ending a three-day outflow run.
- Bitcoin reclaimed 68.4K after a weekend dip and tested 71.4K resistance, a level KillaXBT on X calls critical to near-term trend direction.
- Ethereum ETFs bled for a fourth straight day while Bitcoin products reversed, widening the flow divergence between the two assets.
