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Bitcoin climbs on institutional ETF inflows and options buying
Spot bitcoin funds pulled in more than $700 million over five straight trading days, the longest inflow streak since May, as long-term holders added to positions.
Bitcoin is rising alongside the broader crypto market, with the move linked to reports that the White House has agreed to the wording of an ethics package for the Clarity Act. CoinDesk reports the development could improve the odds that the long-pending legislation advances through Congress, which would strengthen prospects for institutional involvement.
CoinDesk says the buying appears to have a more durable profile this time. The outlet cites SoSoValue data showing spot bitcoin funds attracted more than $700 million across five trading days, the longest streak of inflows since May, contrasting with earlier summer outflows that included $7.5 billion in redemptions between mid-May and June.
Onchain data points to long-term holders also increasing exposure, with wallet addresses that have held BTC for at least six months. CoinDesk also notes that CryptoQuant data cited by analyst Alex Kuptsikevich suggests large “whales” have been building over the past two months even as medium-sized wallets sold, which he described as a constructive signal for BTC in the medium term.
CoinDesk adds that Glassnode sees the market as more balanced than a month ago, with long-term conviction supporting prices while speculative participation stays contained. The outlet also flags near-term risk from expected U.S. Treasury bond issuance, including net new issuance of $56 billion tied to Treasury bill settlements that could drain liquidity from the system and pressure risk assets.
Latest closeBitcoin $66,747.44 ▲2.3%