ETF Floodgates Open as Bitcoin Price Stagnates

Bitcoin's price remains stuck in a range of $83,000 to $84,000, a far cry from its October 2025 peak near $126,000. Meanwhile, institutional investors are pouring money into spot Bitcoin ETFs at an unprecedented rate.

The eight consecutive days of net inflows into US spot Bitcoin ETFs have pulled in roughly $2.39 billion in the past week alone, marking the largest weekly haul since October 2025. Cumulative net inflows have now reached approximately $57.5 billion since their January 2024 launch.

BlackRock's iShares Bitcoin Trust (IBIT) and Fidelity's FBTC are the primary beneficiaries of this influx of capital. The options market, however, tells a more aggressive story, with heavy concentration at $90,000 and $95,000 call strikes.

This phenomenon is known as gamma pinning, where large volumes of options cluster around specific strike prices, contributing to Bitcoin's reluctance to break decisively out of its current range. A similar dynamic played out in December 2025, when a record $24 billion notional options expiry compressed volatility and limited directional moves until the expiry cleared.