Bitcoin’s (BTC) rally above $97,000 was supported by surging inflows to the spot Bitcoin ETFs, and one analyst says that the demand should proceed for BTC to interrupt by way of the $100,000 barrier.
Key takeaways:
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US spot Bitcoin ETFs recorded $1.8 billion in weekly internet inflows, the strongest since early October 2025.
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Complete internet belongings below spot ETFs stay 24% beneath their This autumn 2025 peak.
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Lengthy-term supply-demand dynamics proceed to favor ETFs, as institutional investor entry is anticipated to broaden in 2026.
Bitcoin ETF are just one a part of the image
US spot Bitcoin ETFs logged $1.8 billion in internet inflows this week, marking the biggest weekly consumption because the first week of October 2025. The transfer comes as BTC once more assessments resistance close to the $98,000 degree, signaling renewed institutional curiosity.
Regardless of the rebound, ETF positioning stays nicely beneath earlier highs. The entire internet belongings below administration throughout US spot Bitcoin ETFs peaked at $164.5 billion in This autumn 2025 however at the moment stand close to $125 billion. This represents a drawdown of roughly 24%, underscoring that current inflows have solely partially offset earlier outflows.
Based on the Bitcoin macro intelligence publication, Ecoinometrics, quick bursts of ETF inflows have repeatedly led to transient value bounces adopted by fading momentum.
“Bitcoin doesn’t want just a few good days. It wants just a few good weeks,” the publication stated, noting that cumulative ETF flows stay in a deep drawdown. A handful of optimistic periods barely registers in opposition to extended intervals of promoting. Till inflows cluster over a number of weeks, rallies usually tend to stabilize the worth than restart a sturdy uptrend.
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BTC supply-demand imbalance favors ETFs within the long-run
From a structural standpoint, spot ETF demand continues to outpace new Bitcoin provide. Based on Bitwise, since US Bitcoin ETFs launched in January 2024, they’ve bought roughly 710,777 BTC, whereas the community has produced simply 363,047 BTC over the identical interval. Bitcoin’s value has risen about 94% since then, reflecting that imbalance.
Wanting forward, new provide is comparatively predictable, whereas demand might broaden additional as institutional investor entry to Bitcoin broadens. Notably, 2026 may very well be the yr most institutional allocators proceed to broadly entry crypto ETFs, as Bitwise predicted,
“ETFs will buy greater than 100% of the brand new provide of Bitcoin as institutional demand accelerates.”
In 2025, Bitwise forecast that Bitcoin inflows into publicly listed corporations constructing BTC treasuries, sovereign wealth funds, ETFs, and nation-states might attain $300 billion in 2026.
The corporate highlighted that US spot Bitcoin ETFs attracted $36.2 billion in internet inflows of their inception yr, reaching $125 billion in AUM far sooner than SPDR Gold Shares did in its early development section.
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