Bitcoin Price Eyes Rally to $100,000 as ETF Inflows Surge, Technicals Align

Bitcoin (CRYPTO: BTC) surged to a multi-month high of $87,270 on Monday before pulling back below $84,000 as US bond yields climbed. However, this retreat appears temporary: Bitcoin has formed strongly bullish chart patterns, and ETF inflows have surged.

Bitcoin ETF Inflows are Rising as Treasury Buying Continues

BTC price may benefit from the rising ETF inflows. SoSoValue data shows that spot BTC ETFs had over $134 million in assets on Friday, with BlackRock’s IBIT adding $97 million. Fidelity’s FBTC added $49 million, while investors redeemed ETFs worth $11.8 million from Bitwise. The other Bitcoin ETFs did not have inflows.

For the week, spot Bitcoin ETFs added $2.4 billion in inflows, bringing the monthly additions to $2.7 billion. This is the third consecutive month of gains, which has helped them turn positive for the year. The surge has offset the $4.5 billion outflows in June and $2.43 billion in May. 

These inflows are a sign that American investors expect Bitcoin to continue rising despite the rising US bond yields. 

Bitcoin treasury companies are also accumulating. Michael Saylor’s Strategy (NASDAQ:MSTR) bought 95 Bitcoin last week, bringing its total holdings to 846,000. Strive (NASDAQ:ASSR), which is associated with Vivek Ramaswamy, has also continued buying, bringing its holdings to 26,355.