Bitcoin Surges Past $95K on ETF Inflow Record

Bitcoin climbed above $95,200 on Thursday, marking a fresh all-time high after BlackRock's iShares Bitcoin Trust (IBIT) recorded $2 billion in net inflows over the past week. The surge extends a multi-month rally, with BTC up more than 10% in the last seven days alone. Ethereum followed with gains of around 5%, pushing the total crypto market capitalization past $3.2 trillion.

The inflow record underscores accelerating institutional adoption, fueled by regulatory clarity including the U.S. Securities and Exchange Commission's approval of spot bitcoin ETFs earlier this year. BlackRock's IBIT now holds over 350,000 BTC, equivalent to roughly 1.7% of the network's circulating supply. On-chain data reveals whale accumulation, with addresses holding 1,000+ BTC adding positions amid declining exchange reserves, signaling reduced selling pressure.

This momentum highlights bitcoin's deepening integration into mainstream finance, potentially drawing further capital from pensions and sovereign funds. For traders, key levels to monitor include BTC resistance at $98,000—near its prior peak—and support at $92,000. Any pullback could test ETF flow sustainability, while sustained inflows might propel BTC toward $100,000 by year-end, per analyst models. Altcoin correlations remain elevated, warranting caution on broader market rotations.