US spot Bitcoin ETFs experienced strong performance in May with $5.24 billion in net inflows, reaching a monthly high of $111,970 before pulling back to around $104,823.
Despite the decline, market sentiment remains positive, with the Crypto Fear and Greed Index currently at 57, indicating 'Greed' and sustaining investor confidence.
Investors are closely monitoring the upcoming US jobs report on June 6 by the Bureau of Labor Statistics, which could impact the Federal Reserve's interest rate decisions and influence Bitcoin and broader risk asset markets.
BTC recently experienced a correction from its all-time high of $111,980 to $103,068 and is now trading within a range of $106,750 to $103,750, requiring a sustained break above the ATH for a further rally.