Bitcoin Tops $80,000 on Institutional, Spot ETF Inflows as Market Debates Rally’s Staying Power

Forecast Trend Report by Period

Bitcoin rebounded on inflows from institutional investors and exchange-traded products, but the market remains split over whether the advance can continue.

The Block reported on Sept. 23 that K33, Nexo and Sygnum identified inflows from institutional investors and spot exchange-traded funds as key drivers behind Bitcoin’s move above $80,000. K33 noted that Bitcoin ETPs recorded their biggest daily net inflow since November 2024.

K33 said Bitcoin has likely already passed the low of this market cycle. It said the recent decline was more limited in both depth and duration than the bear markets of 2013, 2017 and 2021. Derivatives positioning and investor sentiment also showed no clear signs of another sharp near-term drop.