Bitcoin Surges Past $95K on ETF Inflow Frenzy

Bitcoin climbed above $95,000 for the first time, reaching a record high of $95,200, fueled by $2 billion in net inflows to spot bitcoin exchange-traded funds over the past week. BlackRock's iShares Bitcoin Trust (IBIT) led the surge, absorbing more than half of the inflows as institutional investors piled in. This marked the strongest weekly ETF demand since March, coinciding with tightening supply dynamics following April's halving event, which halved new bitcoin issuance.

The rally extended to altcoins, with many gaining 10% to 20% and pushing the total cryptocurrency market capitalization beyond $3 trillion. Ether (ETH), a key benchmark alongside bitcoin (BTC), rose in tandem, reflecting broader risk-on sentiment. Institutional fear of missing out—FOMO—appears to be accelerating, as traditional finance bridges the gap with crypto through regulated vehicles like ETFs, which now hold over 1 million bitcoins collectively.

This momentum underscores bitcoin's maturation as an asset class, but traders should monitor several risks. Upcoming US inflation data and Federal Reserve signals could sway risk assets, while ETF flow sustainability remains key amid potential profit-taking near psychological levels like $100,000. On social platforms, enthusiasm is palpable with traders touting #BitcoinTo100K, though sustained inflows will determine if the push holds.