Bitcoin Trades Near $72,500 as US Spot ETFs Record $155M Daily Inflows

Bitcoin traded around $72,500 on Thursday as U.S.-listed spot bitcoin ETFs recorded about $155 million in net inflows on Wednesday, CoinDesk market data and SoSoValue figures show. The latest subscriptions brought cumulative allocations to roughly $1.47 billion over the past two weeks and about $1.7 billion since Feb. 24, following a prior period of net redemptions earlier this year, data from SoSoValue and Bloomberg Intelligence cited by CoinDesk show. Bitfinex analysts noted earlier this week that ETF inflows do not always produce immediate spot market buying because authorized participants can create and short ETF shares before obtaining the underlying bitcoin, while some market participants and Bitfire CEO Livio Weng view the recent flows and price resilience amid geopolitical tensions as signs that bitcoin is increasingly treated as a geopolitical hedge. On-chain analytics firm Glassnode reported that buyside momentum has faded, with the 30-day moving average of realized profit down about 63% since early February, the share of supply in profit near 57%, and the cost basis of short-term holders around $70,000 potentially forming a behavioral ceiling where rallies may turn into distribution.