Bitcoin Bulls Reassert Dominance at $86,300 Amid Institutional Demand

Bitcoin continued its upward trajectory on September 23, trading near $86,300. This price movement is largely attributed to strong institutional demand and heavy inflows into US spot Bitcoin ETFs.

The recent rally has been driven by renewed institutional participation, with US spot Bitcoin ETFs attracting nearly $999 million in net inflows on September 21. This marked the strongest single-day inflow in several months, extending a three-session streak of ETF inflows to around $1.59 billion over that period.

BlackRock's iShares Bitcoin Trust and funds from ARK 21Shares and Fidelity were among the biggest beneficiaries of this demand. The strong ETF flows suggest that institutional investors have continued adding exposure despite recent uncertainty around US monetary policy and cryptocurrency regulation.