Bitcoin’s value surged past the $97,000 mark this week, driven by a steady influx of capital into US spot Bitcoin exchange-traded funds (ETFs), according to market analysts and data sources. This trend indicates a fundamental change in demand following several months of stagnant price movement.
Since the beginning of this year, US spot Bitcoin ETFs have collectively seen nearly $1.5 billion in net inflows, as reported by Bloomberg ETF expert Eric Balchunas. This figure highlights a series of consecutive days with positive creation activity fueled by renewed interest from major investors after a period of subdued ETF flow at the close of 2025.
Balchunas commented on X that the current ETF buying pattern “implies that buyers may have absorbed all available sellers,” referencing Bitcoin’s breakout from an extended consolidation phase around $88,000.
On Wednesday alone, ETF purchases accounted for $843.6 million in net inflows, pushing weekly totals to $1.07 billion and boosting year-to-date figures significantly. While single-day inflow spikes attract attention, the overall story points to more consistent demand returning after earlier shifts within these investment products.
Related: Five key Bitcoin narratives analysts are monitoring beyond just price movements
Could Institutional Investors Change Bitcoin’s Trajectory?
The recent rally comes at a time traditionally considered challenging for Bitcoin based on its historical four-year cycles linked loosely to halving events. These cycles typically see prices peak 12 to 18 months post-halving—a pattern suggesting that the market might already be beyond its cyclical peak.
Although these four-year patterns are not definitive rules, they encourage many experts to approach this phase cautiously due to past market behaviors.
This rebound follows mixed results throughout 2025 when Bitcoin hit new all-time highs but failed to maintain momentum across broader cryptocurrency markets. Despite headline-grabbing price increases, there was no sustained “altcoin season,” leaving many investors disappointed by weak follow-through performance among alternative coins.
A recent analysis from Wintermute suggests that for a wider recovery heading into 2026, structural changes within Bitcoin markets may be necessary. The market maker emphasized that ongoing accumulation via ETFs and digital asset treasury firms—or expanding their investment mandates beyond just Bitcoin—would likely be critical drivers for any broad-based resurgence.
The lackluster retail investor engagement with Bitcoin during 2025 coincided with growing enthusiasm around emerging sectors like AI technology, robotics innovations & space exploration stocks (Source: Wintermute)
Wintermute also highlighted how stronger and more consistent gains across major cryptocurrencies—including but not limited to Bitcoin—are essential for creating widespread wealth effects capable of fueling further growth in digital assets overall.
Related: Crypto investment strategies for 2026 focusing on bitcoin fundamentals alongside stablecoin infrastructure & tokenized asset opportunities