Bitcoin Hits New High, Eyes $100K as Institutional Demand Drives Rally

Bitcoin's recent surge has pushed it to new heights, reaching as high as $87,300. However, analysts warn that breaking through the $90,000 resistance level could be a crucial moment for the market.

The current rally is being fueled by strong institutional demand, with U.S. spot Bitcoin ETFs attracting nearly $1 billion in a single session. This influx of capital has been building over several sessions, with total inflows reaching about $1.59 billion.

August was already the strongest month for Bitcoin ETFs this year, with about $3.52 billion in net inflows. For a sustained break above $90,000, analysts believe that these inflows need to remain strong rather than fade after the latest surge.

If BTC moves through $90,000 on strong volume and holds above it, traders would likely start watching $95,000 as the next intermediate area, followed by the much larger $100,000 milestone.