BTC dominance hits 60% as U.S. bitcoin ETFs post their biggest inflows in over a month

U.S. spot bitcoin ETFs recorded their largest one-day inflows since November 11 on Wednesday, as bitcoin (BTC) fluctuated between nearly $90,000 and under $86,000 amid volatile trading.

Net inflows totaled $457.3 million, with $391.5 million directed to the Fidelity Wise Origin Bitcoin Fund (FBTC), marking one of its top five inflow days, according to Farside data. BlackRock’s iShares Bitcoin Trust (IBIT) also saw strong demand, adding $111.2 million in inflows.

Bitcoin dominance — BTC’s share of the total crypto market — rose to 60%, the highest since November 14, when the cryptocurrency was near $100,000. BTC is currently trading around $87,000.

Volatility could increase further as key macroeconomic events unfold. The Volmex Bitcoin Implied Volatility Index (BVIV) sits just below 50, historically low despite recent swings, signaling muted risk pricing.

Investors are watching the Bank of England, expected to cut rates by 25 basis points to 3.75%, and the European Central Bank, likely to hold rates at 2.15%. Later in the day, inflation data from the U.S. and Japan could add further market volatility, including in cryptocurrencies.