On Thursday, bitcoin’s price jumped to $102,819, hitting a peak not seen since Feb. 3, and plenty of analysts point to a growing wave of institutional involvement as the driving force behind the climb.
Wall Street’s Growing Appetite Sends Bitcoin Soaring Past $102K
The institutions are here in full force, or so the chatter goes, as corporate players and exchange-traded funds (ETFs) scoop up more BTC from the open market. With bitcoin cracking the $100,000 mark today, market watchers and crypto industry specialists chimed in with their thoughts on the latest upward run.
“Under the surface, spot ETF flows remain firm, particularly during U.S. hours,” Bitfinex analysts told Bitcoin.com News on Thursday. “Open interest is high but not frothy, and funding is neutral—this is real demand, not leverage-driven price chasing. Exchange balances continue to decline, and onchain accumulation by long-term holders has resumed.”
The market researchers at Bitfinex added:
This is not a melt-up—it’s a structurally supported move. As long as ETF + institutional flows persist and macro stays stable, dips are likely to be brief and bought aggressively. The path of least resistance remains higher.
BTC/USD on May 8, 2025.
Some see this moment as a full-blown plot twist, and Mike Cahill, CEO of Douro Labs—a major contributor to the Pyth Network—told Bitcoin.com News that’s exactly what it is.
“Bitcoin crossing $100K signals a full-on narrative reset: that’s because this milestone cements BTC’s role as a macro asset in institutional portfolios,” Cahill explained. “We’re seeing coordinated flows from ETFs, sovereign wealth funds, and asset managers who increasingly view bitcoin as a hedge against policy uncertainty and a vehicle for long-duration growth. The price action that’s happening right now is just catching up to what the smart money’s been preparing for all year,” the Douro Labs CEO added.