Bitcoin surged to $74,500 - its highest level since early February - as institutional demand through spot Bitcoin ETFs fueled seven consecutive green daily candles, with eight in sight.
The Fear and Greed Index sits at 23 - still in 'Extreme Fear' - signaling deep skepticism despite the rally.
Spot Bitcoin ETFs have drawn over $2.8 billion in recent weeks. BlackRock’s IBIT alone pulled in $307 million in a single day - more than many mid-cap altcoins see in a week.
This is not retail-driven leverage. It’s pension funds, wealth managers, and allocators using regulated vehicles - a structural shift since January 2024.
Ethereum rose to $2,300 (+9.4%), Solana approached $94 (+6.8%), and meme coins like PEPE jumped ~20% - suggesting broadening risk appetite.
A sustained close above $74,000, continued ETF inflows - especially from IBIT - and a Fear and Greed Index move toward 40+ will confirm momentum. A drop below $69,000 would signal vulnerability.
Bitcoin now competes directly with gold and treasuries for institutional allocation - and $2.8B in flows shows it’s winning some of that battle.