Spot Bitcoin ETFs in the US recorded a total daily net inflow of $552.7 million, according to Coinglass, as institutional investors turn to BTC in a renewed wave of confidence. Bitcoin Price Poised For Wave 5 RallyThe BTC/USD analysis on the daily timeframe shows a strong bullish structure within a well-defined rising channel pattern. The BTC price is moving higher after bouncing off the lower boundary of the channel, which coincided with the 200-day Simple Moving Average (SMA). Bitcoin’s price has also reclaimed the 50-day SMA as support, a bullish sign that confirms short-term strength within the larger uptrend. $117,200 is the next important level for Bitcoin and it also has a CME gap.