Bitcoin recently surpassed $87,000, marking its highest level since January. This price action was supported by a significant inflow of $999 million into US spot Bitcoin ETFs on September 21, according to SoSoValue data.
BlackRock's IBIT led the inflows with $381.4 million, followed by Ark Invest and 21Shares' ARKB with $289.1 million, and Fidelity's FBTC with $238.8 million. Additional capital flowed into MSBT and BITB funds.
Market analysts from Glassnode observed a shift in taker flow toward buying, accompanied by a rise in trading volume and the liquidation of short positions. Realized capitalization metrics suggest new capital is entering the market at higher price points.
Technical indicators show Bitcoin closing above its 50-week moving average for the first time in 44 weeks. Open interest in Bitcoin futures has reached $30.5 billion, reflecting a 5.5% increase over 24 hours, while option interest has neared $41 billion.
Experts warn that while spot buying drives the current momentum, the rapid growth of leveraged positions introduces market volatility. Analysts suggest that sustained spot demand and ETF inflows remain critical for maintaining the current upward trend.
