Bitcoin’s (BTC) price broke above $51,000 on Feb. 14 to form a rare Valentine’s Day winning pattern, while ETF fund inflows suggest a possible $55,000 retest. 

Bitcoin made history on Valentine’s Day as BTC prices rose to a new-yearly peak of $52,040 within the daily time frame on Feb. 14. 

Bitcoin enters five-year Valentine’s Day winning streak

Thanks to an unusually high buying trend among institutional investors, BTC price crossed the $52,000 mark for the first time since 2021, bringing its month-to-date gains to 20%. 

The data shows that Bitcoin price has generated 1.3%, 3.03%, 1.13%, and 1.9% gains in the last four Valentine’s Days, respectively, dating back to 2020.

BTC price rallied 3.66% to peak at $52,040 within the daily timeframe on Feb. 14, extending its Valentine’s winning streak to five consecutive years. 

Breaking it down further, starting in 2020, holders who bought a BTC the night before Valentine’s Day and sold it at midnight would have earned a total profit of $4,196. 

Looking beyond the price charts, BTC spot ETFs have received significant capital inflows this week, which could drive the rally toward $55,000. 

Bitcoin ETFs AUM crosses $10 billion

In another bullish Valentine’s Day record, BTC spot ETFs saw a record $631 million in net inflows. As the initial uncertainty heralded the Grayscale’s (GBTC) billion-dollar sell-off cools, investors have intensified capital inflows in the spot ETF derivatives products this week.

As of Feb. 14, the cumulative Asset Under Management (AUM) of all 10 newly-launched spot ETF products has hit $10.9 billion.  

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Author: Ibrahim Ajibade

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