$BTC

The **Bitcoin spot ETFs** have recorded net inflows exceeding **$1 billion in just three days**, totaling **eight consecutive days of positive flows**. This strong institutional interest contrasts with the **BTC price**, which remains in a narrow range between **$103,000 and $105,000**, affected by geopolitical tensions.

Despite the market's lateral movement, the data reveals **long-term accumulation**:

- **Funding rates in futures** remain positive (0.0066%), indicating **bullish dominance**.

- In options, the demand for **calls exceeds that of puts**, suggesting expectations of an increase.

- **Large investors** view the current levels as a **buying opportunity**, not as a risk.

However, uncertainty persists:

- If **institutional momentum continues**, BTC could break towards **$107,745**.

- If bears take control, a pullback to **$103,061** would be likely.

**Conclusion**: ETFs reflect **confidence in BTC long-term**, but the price remains tied to macro factors. Traders maintain a **cautious bullish bias**, awaiting a decisive move.