Bitcoin ETFs experienced another day of significant inflows totaling over $900 million on Wednesday. Despite the increasing demand for ETFs, Bitcoin's open interest has decreased, and its funding rates have turned negative, indicating a potential shift in short-term market sentiment.

The continuous rise in the inflow of BTC spot ETFs underlines the growing interest from institutional investors, especially as Bitcoin's price aims to stabilize above $90,000. On this day, BlackRock's ETF IBIT had the largest daily net inflow, amounting to $643.16 million, while Ark Invest and 21Shares’ ETF ARKB followed with a net inflow of $129.50 million.

As trading activity in the crypto market has slowed down, Bitcoin's price witnessed a modest decrease, reflecting a decline in futures open interest. The negative funding rate signals that short traders are now dominant and anticipate a potential price decline in the near future. Furthermore, the high demand for put options in the BTC options market and the put-to-call ratio of 1.36 suggest a bearish outlook among options traders, hinting at expectations of downward price movement.