Spot bitcoin ETFs hit 3.5-month high with $517 million influx

Bitcoin bulls are back in the driver's seat after a massive $517 million flood into spot ETFs on Thursday. It's the largest single-day haul since mid-February, snapping a period of relative quiet for the new investment vehicles. BlackRock’s IBIT led the charge, proving that institutional appetite hasn't stalled despite recent price turbulence. This sudden rush of liquidity didn't happen in a vacuum. Analysts are pointing directly to the US Treasury Department's decision to expand its buyback program, a move that effectively juiced market sentiment and sent traders scrambling for risk assets. The treasury's pivot acted as a green light for fund managers who had been sitting on the sidelines waiting for a macro signal. With half a billion dollars entering the ecosystem in just twenty-four hours, the narrative has shifted from cautious holding to aggressive accumulation. The question now is whether the Treasury's liquidity injection has enough legs to push bitcoin past its previous all-time high.