Bitcoin price reaches $107,000 with ETF inflows surpassing $48 billion
Bitcoin is currently priced at $107,400, approaching its record high, thanks to a surge in inflows into U.S.-listed spot Bitcoin ETFs, indicating a revived interest from institutional investors. This consistent uptrend has propelled Bitcoin’s value upwards for four consecutive days, establishing it as a reliable asset in times of economic uncertainty.
In the past 12 days, BTC spot ETFs have seen continuous net inflows, totaling around $3.9 billion since June 9. On a single day, Wednesday, inflows exceeded $547 million, with major contributions coming from BlackRock’s IBIT and Fidelity’s FBTC. The cumulative inflows into ETFs since January 2024 have reached an impressive $48.4 billion, with assets under management across BTC ETFs nearing $125 billion.
The escalating demand is not limited to institutions, as corporations are also joining the fray. Companies like Metaplanet and ProCap BTC have been steadily accumulating Bitcoin, with Metaplanet acquiring 1,234 BTC and ProCap BTC adding 1,208 BTC on Thursday alone. The total BTC holdings of these corporations have now surged to 12,345 BTC and 4,932 BTC, respectively, with a combined increase of 7,597 BTC in just one week.
This influx of institutional and corporate interest is solidifying Bitcoin’s standing as a viable alternative to traditional financial assets. The current macroeconomic landscape, characterized by a weakening U.S. dollar and diminished growth prospects, is further boosting BTC’s appeal. The Dollar Index recently hit a multi-year low, while the World Bank slashed its U.S. growth forecast for 2025 from 2.3% to 1.4%.
In a significant development, the U.S. Federal Housing Finance Agency announced plans to recognize cryptocurrency as a financial asset for mortgage purposes, potentially facilitating access to home loans for crypto holders and enhancing the legitimacy of digital assets in the U.S. financial system.
Despite a brief dip to $98,200 earlier in the week, Bitcoin has rebounded and is now trading above $107,000. Supported by a bullish Relative Strength Index (RSI) at 56, a positive MACD crossover, and a support level at the 50-day Exponential Moving Average (EMA) of $103,543, BTC is primed to retest its all-time high of $111,980 and could potentially breach new levels by July, with resistance anticipated at $120,000.
In conclusion, Bitcoin’s current price surge to $107,400, driven by inflows into spot Bitcoin ETFs, underscores the growing institutional and corporate interest in the digital asset. With a favorable macroeconomic environment and regulatory developments further bolstering BTC’s appeal, it is poised to continue its upward trajectory and potentially reach new milestones in the near future.
