BTC Holds Firm as Institutional Buying Fuels ETF Surge
Bitcoin's price has remained steady at around $83,934 despite a modest 0.35% decline in the past 24 hours, as the market adjusts to the aftermath of a significant options expiry and a surge in institutional buying.
The recent wave of ETF demand has been particularly notable, with US-listed spot Bitcoin exchange-traded funds (ETFs) absorbing $4.6 billion in net inflows since August 19, reversing a long-standing redemption streak and pushing cumulative net flows back into positive territory at around $320 million.
September 21 saw the largest single-day haul of $999 million, coinciding with a rally that took Bitcoin from below $80,000 to above $87,000 before the current cooldown.
As options expiry hedges unwind and leverage builds, traders are watching for signs of volatility, particularly given the massive $18.1 billion in BTC and ETH options set to expire this Friday.