Spot Bitcoin ETFs registered cumulative inflows over a billion dollars this week, the strongest run since late winter. With BTC trading at $77,994, the flow picture is telling a story the price has not fully reflected.
Who’s buying
The cohort doing most of the buying continues to be RIA-allocated capital — small per-ticket but persistent. Block-trade desks report similar steady demand.
The miner question
Miner balances are unchanged week-over-week, suggesting issuance is being absorbed without putting pressure on price. Watch this — when miners do start selling, ETF demand will need to absorb both flows.
What to watch next
The 200-day moving average and the next ETF reporting cycle. For our full BTC outlook, see the Bitcoin prediction page.