Bitcoin (BTC) price holds above $90,000 despite correction, surging institutional interest drives record ETF inflows

Bitcoin continues to demonstrate significant resilience, maintaining levels above the crucial $93,000 mark after weathering a notable correction earlier this year.

Bitcoin (BTC) has continued to display notable resilience, remaining above the crucial $93,000 zone even after enduring a substantial correction earlier in the year.

This stability is being driven by a confluence of factors, including surging institutional interest with record ETF (exchange-traded fund) inflows, increasingly bullish long-term price predictions, and a potentially easing regulatory landscape.

A primary driver of the recent strength has been the remarkable influx of capital into U.S.-listed spot Bitcoin ETFs.

These investment vehicles encountered substantial demand this week, attracting nearly $1.3 billion in net inflows, according to data from SoSoValue.

On Tuesday alone, inflows approached the $1 billion mark, signifying the strongest single day since mid-January. This brings the total assets under management across these spot Bitcoin ETFs to an impressive $103 billion.

BlackRock’s iShares Bitcoin Trust (IBIT) continues to lead the pack, accumulating $2.7 billion year-to-date, including $346 million last week alone.

Observing the broad participation across ten of the eleven available funds, Bloomberg senior ETF analyst Eric Balchunas vividly described the activity, stating the ETFs had entered “Pac-Man mode.”

This widespread buying across multiple providers, rather than a strong focus on just one or two, suggests a broadening base of institutional conviction.

The total value traded across all spot Bitcoin ETFs reached $496 million, indicating significant market activity.

ARK Invest upped its bitcoin price targets to $2.4 million by 2030

Prominent investment firm ARK Invest recently adjusted its 2030 price targets for Bitcoin, significantly raising them as institutional investment continues to drive cryptocurrency adoption.

Adjusting its “bull case” scenario from $1.5 million to a striking $2.4 million per Bitcoin by the decade’s end, ARK attributed the increase to observing a faster-than-anticipated integration of crypto by institutions.

The firm also upped its “base” case to $1.2 million and its “bear” case to $500,000.

ARK research analyst David Puell broke down the firm’s estimations, saying he expects Bitcoin to achieve a 6.5% penetration rate within the massive $200 trillion global financial system in their most optimistic scenario.

This would entail Bitcoin outperforming other asset classes and potentially reaching a price of $2.4 million by 2030.

Moreover, ARK’s model considers Bitcoin’s growing acceptance as “digital gold,” projecting it could capture up to 60% of gold’s approximately $18 trillion market capitalization.

Bitcoin holding support ahead of potential breakout - analyst

Maintaining current levels is seen as critical, according to technical analysis.

Analysts highlight the importance of Bitcoin holding support above the $93,500 zone to avoid potential downward pressure.

Crypto analyst Rekt Capital suggests BTC needs to fully resynchronize with the former Reaccumulation range after the recent strong move.

To do so, he says Bitcoin must remain above the $93,500 zone and ideally secure a weekly close above it.

“If BTC loses this level, then expect a return to the lower timeframes to hunt for more support (e.g., Fibonacci). But if BTC can hold this zone and continue to move higher from here, then we’ll see a return to the upper timeframes (e.g., monthly chart).”

Chart: Rekt Capital

Crypto traders are also noting the amount of Bitcoin supply held in profit has now crossed the 16.7 million BTC “threshold of optimism.”

Historical analysis suggests that when Bitcoin consistently trades above this zone (as seen in 2016, 2020, and 2024), significant price appreciation usually follows within a few months.

This is because it indicates a sustained period of buying activity, which typically leads to further upward price pressure.

At the time of writing, on-chain analytics firm Glassnode reported that the realized value of Bitcoin has risen above the 16.7 million BTC zone.

This zone was previously crossed in 2016, during the final stages of the bear market, and again in 2020, at the beginning of the bull market. Both periods were followed by months of sustained price increases.

The fact that Bitcoin has managed to remain above this level despite recent price volatility suggests strong institutional interest is continuing to drive up prices.

As seen in the chart above, the realized value of Bitcoin supply crossed above the 16.7 million BTC zone in early 2016, during the final stages of the bear market that followed the 2013 bull run.

After bottoming out at around $300 in January 2015, Bitcoin experienced a gradual recovery over the course of 2016, eventually