Bitcoin Targets $112K as ETF Cash Floods In and MetaPlanet Gobbles Up 1,241 BTC

Institutional money is pouring into Bitcoin like a leaky faucet—ETF inflows surge while Tokyo’s MetaPlanet just dropped another ¥1.25 billion on the orange coin. The crypto market shrugs off regulatory FUD like a bull swatting flies.

Price action now flirting with six figures as traders front-run the ’halving effect’ (again). Meanwhile, Wall Street still can’t decide if Bitcoin’s a commodity, security, or their lunch money.

Bitcoin Price Chart The current 1.45% surge in Bitcoin over the past four hours has created a bullish engulfing candle. Furthermore, it has formed a morning star pattern within the short-term parallel channel, signaling a breakout rally. For a conclusive breakout, Bitcoin must sustain a closing price above the overhead trendline. However, the rising BTC price has yet to be accompanied by a surge in bullish momentum in the Relative Strength Index (RSI), warning of a bearish divergence and hinting at a potential minor correction. This scenario suggests a possible retest of the previously broken overhead trendline of the expanding wedge. If BTC manages a decisive breakout from the short-term channel, the uptrend will likely reach the immediate R1 pivot resistance near $108,284. This would increase the probability of BTC reaching the R2 pivot resistance near $112,439. On the flip side, crucial support lies at the central pivot level near $100,900. Bitcoin ETF Flows Signal Rising Institutional Strength Supporting the bullish trend, U.S. spot BTC ETFs have recorded three consecutive weeks of inflows. According to SoSoValue data, over the past three weeks, the weekly net inflow has exceeded $3.5 billion. On May 9, the daily total net inflow stood at $321.46 million, with BlackRock accounting for an inflow of $356.20 million.

Bitcoin ETFs Flows MetaPlanet Adds 1,241 BTC as U.S. and China Sign Trade Deal  Following a prolonged tariff war between the U.S. and China, both countries mutually agreed to a trade deal in Geneva. As the dialogue progresses, more details are expected today. Meanwhile, the development has already significantly boosted sentiment in both global and crypto markets. Amid these conditions, MetaPlanet recently acquired 1,241 BTC for $125.3 million. With this purchase, MetaPlanet’s Bitcoin holdings have now surpassed those of El Salvador. Currently, MetaPlanet holds 6,796 BTC worth $700 million, with an average purchase price of $90,243.