Bitcoin ETFs See $457M Inflows Ahead of US CPI Report

Group 1 - The US Consumer Price Index (CPI) expectations led to significant institutional inflows into Bitcoin exchange-traded funds (ETFs), totaling $457.3 million on December 17 [1] - Fidelity's FBTC and BlackRock's IBIT were the primary contributors to the inflows, with amounts of $391.5 million and $111.2 million respectively [1] - In contrast, spot Ethereum ETFs experienced a net outflow of $22.4 million, marking their fifth consecutive outflow [2] Group 2 - Bitcoin's price exhibited high volatility, rising from $87,000 to over $90,000 before dropping below $86,000 within hours [2] - The global crypto market cap saw an increase of approximately $80 billion, followed by a decrease of around $120 billion in the same timeframe [2] - The volatility resulted in nearly $400 million in liquidations, affecting 123,200 traders [3] Group 3 - Historical data indicates that the US CPI report significantly impacts financial markets, including crypto, with a previous inflow of $931 million into Bitcoin-related products following the October CPI report [4] - José Torres, a senior economist, anticipates that the upcoming US CPI reading could initiate a "Santa Claus rally," predicting a year-over-year inflation rate of 2.9% for November [5] - The Bank of Japan is also set to release its national CPI report and announce its interest rate decision, which may further influence market dynamics [5]