U.S. spot bitcoin exchange-traded funds (ETFs) saw their largest one-day inflows since November 11 on Wednesday, amid a volatile crypto market in which bitcoin (BTC) briefly rallied to nearly $90,000 before slipping below $86,000.

Total net inflows for the day reached $457.3 million, with the bulk — $391.5 million — flowing into the Fidelity Wise Origin Bitcoin Fund (FBTC), marking one of its top five inflow days, according to Farside data. BlackRock’s iShares Bitcoin Trust (IBIT) also saw strong demand, registering $111.2 million in inflows.

Bitcoin dominance, which measures BTC’s share of the total cryptocurrency market capitalization, climbed to 60%, the highest level since November 14 when bitcoin was trading near $100,000. The largest cryptocurrency is currently around $87,000.

Several macroeconomic events scheduled for Thursday could further influence bitcoin volatility. The Volmex Bitcoin Implied Volatility Index (BVIV) shows implied volatility just below 50, historically low levels that suggest subdued market risk pricing despite recent price swings.

The Bank of England is expected to cut interest rates by 25 basis points to 3.75% at 12:00 UTC, while the European Central Bank is anticipated to keep rates steady at 2.15%. Later in the day, both U.S. and Japan will release inflation data, events likely to amplify volatility across global markets, including cryptocurrencies.