Bitcoin surpassed $100,000 on May 8 as institutional investors increased their investments through ETFs, with leading firms like ARK 21Shares, Fidelity, and BlackRock driving significant inflows. On May 7, Bitcoin ETFs reported net inflows of $142.3 million, indicative of sustained interest from institutional players such as hedge funds and asset managers. ARKB saw the highest inflow with $54 million, followed by Fidelity's FBTC at $39 million and BlackRock's IBIT at $37 million. The following day, inflows exceeded $117 million, with IBIT leading again at $69 million. Expert Alex Obchakevich noted a strong correlation between Bitcoin and tech stocks, suggesting that the positive sentiment in the Nasdaq was bolstering Bitcoin's value. He anticipates continued institutional accumulation, barring any major market upheavals. However, outflows from Grayscale Bitcoin Trust, tied to investor confidence issues and high fees, are a concerning trend. Overall, institutional buying remains robust, reflecting a bullish outlook in the crypto market.

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