According to data from cryptocurrency analysis firm Arkham, Morgan Stanley’s Bitcoin ETF (MSBT) purchased $83.6 million worth of BTC this week. The fund currently holds $64.4 million in its on-chain addresses. The spike in BTC ETF inflows coincide with the underlying asset’s recent price surge. BTC briefly climbed to $75,000, but has since dipped to the $73,000 mark. According to CoinGecko’s Bitcoin data, BTC’s price has slipped 1% in the last 24 hours, but has maintained substantial gains in the other time frames. The asset is up 2.9% in the last week, 7.5% in the 14-day charts, and 1% over the previous month. Let’s discuss if increased ETF inflows will lead to another bullish upswing for the largest cryptocurrency by market cap.
Will Morgan Stanley’s ETF’s Increased Bitcoin Purchases Trigger A Rally?
The markets are still fragile and risk appetite is significantly low. The chances of an interest rate cut from the Federal Reserve after its April meeting are quite slim. CME’s FedWatch tool shows a 99.5% chance of interest rates remaining unchanged. Higher interest rates could keep investors away from risky assets for a prolonged period. Bitcoin (BTC) could remain in a sideways trajectory unless this pattern changes.
Furthermore, the US-Iran conflict seems to have no end in sight. Geopolitical tensions have also barred market participants from making risky bets.
Although Bitcoin ETF inflows have spiked, retail players continue to show reluctance. The market may not breakout into a rally unless retail buyer re-enter the market.
Also Read: Bitwise CIO Gives Two Reasons Why Bitcoin Should Be Higher
CoinCodex analysts paint a bullish picture for Bitcoin (BTC) over the coming months. The platform anticipates the asset to rally over the coming months. CoinCodex predicts BTC to hit $87,778 on July 10, 2026. Hitting $87,778 from current price levels will translate to a rally of about 18.87%.
