Bitcoin Holds Firm Around $91K as ETF Inflows Fuel Momentum
Bitcoin (BTC) is holding its ground near $91,000 after briefly dipping to just over $89,000. The cryptocurrency remains 2% below its all-time high of $93,445 set on Wednesday but has gained 4.5% in the past 24 hours. The surge continues to be driven by robust inflows into Bitcoin ETFs, with $510 million added on Wednesday alone. This brings the six-day total to an impressive $4.7 billion. Analyst Checkmate noted the rally’s spot-driven nature, highlighting that ETFs are absorbing nearly all selling pressure from long-term holders.
On the political front, the Republican Party’s majority in the House of Representatives, combined with Donald Trump’s presidency and Senate gains, has solidified a pro-crypto stance in U.S. governance. This alignment could pave the way for more favorable regulatory developments as Congress advances crypto-related legislation.
Institutional appetite for crypto also continues to grow. Sygnum’s annual survey of over 400 institutional investors found that 57% intend to increase their exposure to digital assets, citing long-term confidence and a willingness to embrace risk. A striking 65% of respondents remain bullish for the long haul, with many planning to add to their holdings within the next six months.
Chart of the Day: Retail Interest in Bitcoin Surges
Google search data shows a significant rise in U.S. searches for “bitcoin,” reaching levels not seen since the Terra/Luna collapse in mid-2022. This increased interest from retail investors could translate into higher trading activity and further price gains, potentially sparking a new wave of speculation.
