Bitfinex Report: Bitcoin Fund Flows Turn Positive but Market Confidence Remains Insufficient, Bearish Dominance Unchanged

Odaily News Bitfinex released a report stating that on March 30 and 31, BTC ETFs recorded net inflows of $69.4 million and $114 million respectively, ending the outflow trend of the previous two consecutive weeks. However, structurally, the inflows were still primarily driven by ARK Invest (ARKB) and Fidelity (FBTC), while the fund return for BlackRock's IBIT was limited, reflecting that institutional demand remains cautious. Nonetheless, funding rates in the derivatives market remained negative for most of the first quarter, indicating the continuation of a bearish dominance, with traders still inclined to pay for downside risk. Currently, there is a dense liquidation zone for Bitcoin below approximately $66,500. If the price rises, it might trigger a short squeeze, but overall, market confidence in this rebound remains insufficient.