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In the past month, Bitcoin 
$107,407 achieved a notable milestone by climbing over the $100,000 mark for the first time since February, experiencing nearly a 20% surge. Experts attribute this upswing to both a stabilizing global economic environment and aggressive acquisitions by institutional investors. Despite the increase in spot volumes, volatility remained limited, reinforcing the notion of a “steady bull” market. Market participants are cautiously optimistic about the potential of setting new records.
Institutional Demand and ETF Inflows
Last week, spot Bitcoin Exchange-Traded Funds (ETFs) in the United States saw net inflows nearing $1 billion, bringing the total for the year to approximately $6.7 billion. BlackRock’s IBIT fund experienced strong demand for the fourth consecutive week. Investment advisors highlight that “portfolio balancing algorithms” are consistently purchasing Bitcoin, while individual interest has remained relatively low.
Institutional appetite is not limited to ETFs alone. Formerly known as MicroStrategy, now Strategy, acquired 13,390 Bitcoins at an average price of $99,000 in mid-May, boosting their total holdings to a peak of 568,840 Bitcoins. Additionally, Japan-based Metaplanet surpassed El Salvador’s official reserves by reaching 6,796 Bitcoins with their recent acquisition of 1,271 Bitcoins.
Analysts note that the rising spot volumes and decreasing volatility signal that “high-frequency institutional entries” now dictate the price. The pulse of the market now beats in ETF trading desks rather than on social media platforms like Twitter.
Macroeconomic Factors and Market Confidence
The pause in interest rate hikes by the U.S. Federal Reserve and easing tariffs between Washington and Beijing have rejuvenated risk appetite. Global fund managers hastened their search for alternative assets as the “clouds of uncertainty” lifted. This environment allowed Bitcoin to outpace stocks and other risky assets.
Analysts at Bitfinex observe the enduring strength of the “multi-month lows rally,” with Bitcoin’s ability to maintain its position above $100,000 considered a critical threshold. Concentrated demand in the institutional sector supports the price while also mitigating sudden pullbacks. However, for new record attempts, continuous ETF inflows are essential.
In the coming weeks, inflation data, bond market signals, and major corporate balance sheets will be closely monitored. Analysts agree that should institutional wallets accumulate further, touching the $110,000 range would not be a “surprise.”
