Bitcoin Reclaims $87K, Institutional Demand Keeps $100K on Radar
Bitcoin has reclaimed its position above $87,000, putting the psychologically important $100,000 level back in focus for traders. This latest rally is supported by institutional inflows, corporate purchases, and an improving technical structure.
The US spot Bitcoin exchange-traded funds (ETFs) saw net inflows of $714 million during the rally, with BlackRock's iShares Bitcoin Trust leading the group with $350 million in net inflows. Fidelity's Bitcoin ETF followed with $257 million in net inflows.
Strategy, the largest corporate holder of BTC, purchased another 950 coins for $75.7 million during the previous week, lifting its total holdings to approximately 846,000 BTC. This acquisition shows that the company is continuing its accumulation strategy as prices recover.
However, despite this positive momentum, the macroeconomic environment remains a potential obstacle for Bitcoin. Richmond Federal Reserve President Tom Barkin recently stated that inflation remained too high and left open the possibility of further interest-rate increases.
The improving technical structure of BTC is also worth noting. The Relative Strength Index (RSI) remains above its midpoint, supporting the positive momentum outlook without necessarily indicating that the move has become excessively stretched.