Overview
- Bitcoin is trading above $95,000 for the first time since February, marking a 12% weekly increase and its strongest performance since November 2024.
- U.S.-listed spot Bitcoin ETFs saw $2.68 billion in net inflows this week, the highest since December, signaling renewed investor confidence.
- Exchange-held Bitcoin balances have declined from 3 million in November 2024 to 2.6 million, reflecting increased long-term holding behavior.
- Institutional and sovereign wealth fund accumulation is driving demand, with analysts highlighting Bitcoin's growing appeal as a store-of-value asset.
- ARK Invest raised its 2030 bull-case Bitcoin price target to $2.4 million, citing institutional adoption and its role as 'digital gold.'