Bitcoin $BTC
is holding steady in a tight range after hitting $123,000, with its price now at around $118,200—a 58% gain from this year’s low. Despite the pause, Bitcoin ETFs are seeing strong inflows for the sixth week straight, adding $2.3 billion recently. BlackRock’s IBIT now manages $86 billion, making it their eighth-largest fund. Fidelity and Grayscale ETFs also show impressive growth.
Analysts link this surge to rising institutional demand, concerns over U.S. debt, and inflation hedging. The new GENIUS Act, signed by Trump, has further boosted confidence by regulating stablecoins. Technical charts show Bitcoin forming a bullish pennant, suggesting a possible move towards $125,000 if momentum continues.
Ethereum ETFs Also Boom
Ethereum rose to $3,580 after ten straight weeks of ETF inflows totaling $7.49 billion. BlackRock’s ETHA leads the market with over $9 billion in assets. Technical indicators point to ETH targeting the $4,000 mark, though analysts warn of a potential short-term pullback before another surge.
Both BTC and ETH continue attracting strong Wall Street interest, hinting at further upside in the crypto market.