Bitcoin Eyes $100K as Institutional Demand and On-Chain Momentum Surge
Bitcoin's price has surged to $87,000, and the bullish momentum is backed by strong institutional demand, improving technicals, and on-chain data turning bullish. The token's latest rally is supported by a sharp rebound in spot ETF demand, with US spot Bitcoin ETFs recording nearly $998.95 million on September 21, the strongest single-day inflow since October 2025.
The buying also extended into a three-session break, taking cumulative inflows to nearly $1.6 billion. BlackRock's IBIT led Monday's inflows with about $381.4 million, while ARKB and Fidelity's FBTC also attracted substantial capital. This suggests renewed institutional demand is arriving as BTC pushes through key resistance, potentially providing the liquidity needed for Bitcoin to sustain its recovery toward $100,000.
The on-chain data is starting to paint a more constructive picture, with Glassnode's latest MVRV moving above its 365-day average. This has marked a shift in momentum that has previously appeared during Bitcoin's recovery phases. The chart also highlights similar turning points in 2019 and 2023, when Bitcoin eventually entered a stronger upward trend.
Bitcoin's price structure is providing another important signal; it has pushed above the key resistance zone near $83,500 and is now trading around $86,000. A sustained move above the range could put $100,000 back in focus, provided the token breaks the immediate resistance around $91,000, while transforming $85,950 into a strong base.