For a deeper dive, see our full XRP forecast here.

Bitcoin (BTC) joined XRP and the broader market in negative territory on May 19. Investor caution about the GENIUS Act vote overshadowed the effect of net inflows into the US BTC-spot ETF market, typically bullish for BTC price trends.

According to Farside Investors, US BTC-spot ETF issuers could potentially extend the inflow streak to four sessions on May 19. Key inflow trends included:

Excluding BlackRock’s (BLK) pending iShares Bitcoin Trust (IBIT) data, the US BTC-spot ETF market saw total inflows of $361.5 million. IBIT remains the key player in the BTC-spot ETF market. Bloomberg Intelligence Senior ETF Analyst Eric Balchunas commented:

“Also notable leaderboard action: IBIT has climbed up to 6th spot and is now nearly double the inflow into SPDR Gold Trust (GLD) which has slid to 17th, despite gold doubling bitcoin’s performance YTD altho that prob won’t last.”

IBIT had net inflows of $8,304.48 million year-to-date compared with inflows of $4,418.36 million into GLD.

BTC fell 0.85% on May 19, partially reversing Sunday’s 3.14% rally to close at $105,573.

BTC’s short-term outlook depends on several key drivers: the GENIUS Act vote, US-China trade developments, macroeconomic data, and ETF inflows or outflows.

Potential scenarios: