Bloomberg: Bitcoin institutional demand strengthens Institutional demand for Bitcoin also supported its price so far this week. According to Coinglass data, Bitcoin spot ETFs saw an inflow totaling $2.84 billion until Thursday, compared to $1.78 billion the previous week. If this inflow trend persists or accelerates, it could provide additional momentum to the ongoing Bitcoin price rally.

Bitcoin Spot ETF Net Inflow chart. Source: Coinglass The ongoing rally is further fueled by whale accumulation. Lookonchain data shows that whale’s wallets accumulated 2,895 BTC worth $282.5 million in 9 different wallets on Thursday, while other whales accumulated 3,289 BTC worth $302 million from Binance this week. Data Nerd shows another whale accumulated 1,109 BTC worth $104.39 million from Binance and Coinbase exchanges on Wednesday and currently holds 2,219 BTC worth $212.41 million, all reflecting strong demand for Bitcoin.