Bitcoin Surges Past $95,000 Amid Renewed Institutional Demand
Bitcoin surged past $95,000 for the first time in nearly two months on Saturday, as a combination of robust inflows into U.S.-listed spot Bitcoin ETFs and renewed buying from large institutional investors reignited bullish momentum.
The world's largest cryptocurrency rose as much as 8.4% in the past 24 hours, touching an intraday high of $95,780. Other major digital assets also advanced, with Ethereum gaining 5.9% and Solana jumping 11.2%.
ETF Inflows Fuel the Rally
Spot Bitcoin ETFs recorded a combined net inflow of approximately $840 million on Friday, the largest single-day haul since early December, according to Bloomberg Intelligence.
BlackRock's iShares Bitcoin Trust (IBIT) alone took in more than $500 million on Friday, pushing its total AUM above $28 billion.
On-Chain Signals Are Bullish
Data from blockchain analytics firms show that long-term holders — wallets that have held Bitcoin for more than 155 days — have been steadily accumulating rather than distributing, a pattern historically associated with the early stages of a bull run.
“The supply squeeze is real. Long-term holders are not selling into this rally, which means new demand is pushing prices up against a shrinking float.”
Despite the positive momentum, analysts warn that Bitcoin remains a volatile asset and a pullback after a rapid run-up cannot be ruled out.
Why Spot ETFs Changed the Buyer Base
Before spot Bitcoin ETFs existed, gaining exposure meant either buying and self-custodying the asset directly through a crypto exchange, or using a futures-based fund that could diverge from the spot price over time. Spot ETFs collapsed that friction: a financial advisor, pension fund, or retail investor can now hold Bitcoin exposure through the exact same brokerage account they use for stocks and bonds, with the same tax reporting and custody protections. That has meaningfully widened the pool of potential buyers beyond crypto-native traders to include institutions with mandates that previously excluded direct digital-asset ownership entirely.
This structural shift is also why on-chain metrics like long-term holder behavior have taken on new significance. When a growing share of new demand flows through ETFs rather than exchange wallets, and existing holders aren't selling into the rally, the available float shrinks even as demand grows — a dynamic that can amplify price moves in both directions. It cuts both ways: the same mechanism that accelerates rallies can also accelerate drawdowns if ETF outflows turn sharply negative, which is why volatility remains a defining feature of the asset class regardless of the buyer base.