Institutional investors injected $240 million into U.S. spot Bitcoin exchange-traded funds, signaling renewed confidence despite the cryptocurrency’s struggle to maintain its $100,000 price level.
The net inflow on Thursday ended a six-day streak of outflows from these products, which had drained over $2 billion in total capital.
BlackRock’s IBIT fund led the surge with $112.4 million in new capital, followed by Fidelity’s FBTC at $61.6 million and Ark and 21Shares’ ARKB contributing $60.4 million.
This data, compiled by SoSoValue, indicates an unexpected injection of liquidity into the digital asset space.
Bitcoin (BTC) has recently battled to hold its value above $100,000. The cryptocurrency briefly fell below this psychological threshold on Tuesday, a level not seen since June. It also dipped below $100,000 again on Friday morning, marking a daily decline of approximately 2%.
Current trading places BTC around $100,600, a 21% drop from its $126,000 peak achieved just a month ago.
Analysts offered mixed views on the market’s direction. Dean Chen, an analyst at Bitunix, stated that the ETF inflows suggest “capital is still entering the space despite short-term pressure.”
Chen remained optimistic, indicating the recent Bitcoin price fall likely does not signify the end of its upward trend.
Conversely, CryptoQuant analysts warned of “extremely bearish” market conditions in their latest weekly report. They highlighted that a fall below the 365-day moving average, positioned around $102,000, represents a significant loss of technical and psychological support for the current bullish cycle.
Timothy Misir, head of research at BRN, echoed a more hopeful perspective. He noted that the “resumption of ETF inflows” combined with buying activity from large investors could point to a market “recalibration” rather than continued decline.
Future price projections for Bitcoin also diverge among financial institutions. Galaxy Digital revised its year-end target down to $120,000 from an earlier $185,000. JPMorgan, however, maintains its forecast that Bitcoin could reach $170,000 within the next six to twelve months.