Bitcoin (BTC) is testing the $74,000 level after a week in which spot ETFs recorded $763.4 million in combined net inflows, led by BlackRock's $600.1 million acquisition — the asset manager's largest weekly buy since early March, extending a five-day purchasing streak that began after its last sale on Mar. 6.
What Happened: ETF Inflow Surge
Grayscale's GBTC was the largest net seller among spot BTC ETFs during the same period, while BlackRock sat on the opposite end, accounting for nearly 79% of total weekly inflows.
Ethereum (ETH) spot ETFs also turned positive, drawing $160.9 million for the week ending Mar. 13. Fidelity's FETH fund led buyer activity, with Grayscale again acting as the largest seller on the ETH side.
The broader market followed the move. XRP (XRP) gained 5.2%, Solana (SOL) rose 5.8%, and ETH climbed 7.4% over 24 hours, while more than $300 million in leveraged positions were liquidated across exchanges.
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Why It Matters: Sentiment Still Fragile
Total crypto market capitalization has climbed to roughly $2.6 trillion. The overall mood, however, remains in extreme fear territory according to the Fear and Greed Crypto Index — a disconnect from the price action that suggests the rally lacks broad conviction.
The week ahead may test that tension further. February's PPI inflation report is due Wednesday, followed by the Federal Reserve's interest rate decision the same day; prediction markets and CME futures assign a 99% probability that rates will hold steady.
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