Bitcoin (BTC) markets saw some profit-taking after a strong week, with Bitcoin dropping up to 0.5% over 24 hours, stabilizing just above $72,400.

On Wednesday, U.S. Bitcoin exchange-traded funds (ETFs) attracted over $893 million after $879 million the previous day, marking significant institutional interest. Traders noted that high ETF inflows suggest robust demand for Bitcoin, especially as its market dominance grows at the expense of ether.

With Bitcoin currently maintaining a dominance of 59.8%, it seems to be outperforming ether by nearly 10% on a week-over-week basis. Notably, BlackRock’s IBIT accounted for most of the inflows, with a record $872 million reported.

"Strong BTC net inflows indicate robust institutional demand as BTC dominance continues to rise [at the expense of ETH]," said Augustine Fan, head of insights at DeFi platform SOFA, via Telegram.

The cumulative net inflows for these ETFs since their inception now total $24 billion, suggesting a long-term growing trend in institutional interest for cryptocurrency.

Market Overview

After posting significant gains, Bitcoin saw fluctuations but managed to maintain stability amidst increasing liquidity and Bitcoin transactions. This positive momentum in the market follows a week of significant price shifts.