On January 6, 2025, Bitcoin ETFs experienced a significant net inflow of 9,014 BTC, amounting to $923.45 million. Fidelity was a major contributor, with an inflow of 3,625 BTC, equating to $371.39 million, and currently holds a total of 205,510 BTC, valued at $21.05 billion (source: @lookonchain). This surge in inflows indicates robust investor interest in Bitcoin at this time.

The trading implications of these inflows are substantial. The increased demand for Bitcoin through ETFs could drive up the price of BTC in the spot market. Given the significant amount of $923.45 million in net inflows, traders might anticipate a bullish trend in the near term. Additionally, the data suggests that institutional investors, like Fidelity, are actively increasing their Bitcoin holdings, which could further fuel market optimism (source: @lookonchain). Ethereum ETFs also saw a net inflow of 10,706 ETH, totaling $39.98 million, with iShares (Blackrock) contributing 9,389 ETH, valued at $35.06 million, and currently holding 1,080,804 ETH, worth $4.04 billion (source: @lookonchain). This indicates a similar trend of growing institutional interest in Ethereum.

Technical indicators and volume data further support the bullish outlook for both Bitcoin and Ethereum. On January 6, 2025, the trading volume for Bitcoin ETFs was notably high, reflecting strong market activity. The moving average convergence divergence (MACD) for BTC showed a bullish crossover, suggesting potential upward momentum in the near future. Similarly, Ethereum's trading volume increased significantly, and its relative strength index (RSI) was at a level indicating it was not yet overbought, suggesting room for further growth. These technical indicators, combined with the substantial ETF inflows, provide a compelling case for traders to consider long positions in both Bitcoin and Ethereum (source: @lookonchain).