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 means of the $100,000 barrier.
Key takeaways:
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US spot Bitcoin ETFs recorded $1.8 billion in weekly web inflows, the strongest since early October 2025.
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Complete web property beneath spot ETFs stay 24% under their This autumn 2025 peak.
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Lengthy-term supply-demand dynamics proceed to favor ETFs, as institutional investor entry is predicted to increase in 2026.
Bitcoin ETF are just one a part of the image
US spot Bitcoin ETFs logged $1.8 billion in web inflows this week, marking the biggest weekly consumption for the reason that first week of October 2025. The transfer comes as BTC once more checks resistance close to the $98,000 degree, signaling renewed institutional curiosity.
Regardless of the rebound, ETF positioning stays properly under earlier highs. The overall web property beneath administration throughout US spot Bitcoin ETFs peaked at $164.5 billion in This autumn 2025 however presently stand close to $125 billion. This represents a drawdown of roughly 24%, underscoring that latest inflows have solely partially offset earlier outflows.
In accordance with the Bitcoin macro intelligence e-newsletter, Ecoinometrics, brief bursts of ETF inflows have repeatedly led to transient value bounces adopted by fading momentum.
“Bitcoin doesn’t want a number of good days. It wants a number of good weeks,” the e-newsletter mentioned, noting that cumulative ETF flows stay in a deep drawdown. A handful of constructive periods barely registers in opposition to extended durations of promoting. Till inflows cluster over a number of weeks, rallies usually tend to stabilize the value 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. In accordance with 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 increase additional as institutional investor entry to Bitcoin broadens. Notably, 2026 could possibly be the 12 months 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 firms 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 web inflows of their inception 12 months, reaching $125 billion in AUM far sooner than SPDR Gold Shares did in its early development part.
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