ETF Inflows Hit $1.42 Billion, Fueling Bitcoin’s Ascent Past $96,000

A substantial $1.42 billion poured into US spot Bitcoin ETFs last week, delivering the best weekly inflow figure since October. This fresh capital provided significant momentum for the market.

BlackRock’s IBIT was the standout, drawing in $1.03 billion for the week, as reported by SoSoValue. This performance marks the most robust weekly influx for the product in over three months.

“These inflows signal renewed institutional demand and conviction in BTC as a long-term asset class,” explained Nick Ruck of LVRG Research. This conviction was reflected in the price action throughout the week.

Bitcoin’s price responded, rallying from approximately $90,500 to around $97,000. The rally, however, faced a setback due to emerging macroeconomic concerns.

The cryptocurrency retreated on Sunday, falling to $92,618 after news broke of tensions between the US and EU. Ruck noted that despite the pullback, the week’s inflows suggest underlying accumulation that could stabilize the market.