Bitcoin briefly surpassed $95,800 this week, its highest level in months, amid a surge in institutional investment and renewed activity among large holders. The spike marks the strongest week of net inflows to Bitcoin exchange-traded funds (ETFs) since January 2017, according to blockchain analytics platform Santiment.
The increase in ETF inflows comes at a time when institutional players, including asset management giant BlackRock, have ramped up their exposure to Bitcoin and other digital assets. The influx of capital has coincided with a broader crypto market rebound, which analysts suggest may be tied to shifting sentiment around risk assets.
Whales and Sharks Add to Bitcoin Holdings
In addition to institutional activity, on-chain data shows that wallets holding between 10 and 10,000 BTC—often referred to as whales and sharks—have added 19,255 Bitcoins in recent days. These addresses represent a significant share of the network and are closely monitored for signs of accumulation or distribution.
Bitcoin’s price has climbed 11.2% during this period, with the accumulation trend among these large holders viewed by market observers as a potential indicator of confidence. Historically, similar behaviour has preceded upward price movements, though analysts caution that correlation does not always imply causation.
Santiment’s data suggests these wallets have continued to accumulate, a trend that aligns with the broader shift in demand dynamics over the past few months. While retail activity has remained comparatively stable, the growing role of institutional and large-holder involvement is reshaping the market’s structure.
Market Context and Implications
The resurgence of interest in Bitcoin ETFs reflects ongoing changes in investor preferences, particularly amid economic uncertainty and monetary policy shifts. Bitcoin ETFs have been positioned as a regulated entry point for institutions seeking exposure to the asset class without direct custody of digital coins.
The timing of the surge—months after the U.S. Securities and Exchange Commission approved multiple spot Bitcoin ETFs—suggests that regulatory clarity may be encouraging more cautious investors to participate. Despite the price increase, market volatility remains a concern.
Analysts note that while inflows and large-holder activity offer insights into market trends, external factors such as geopolitical developments and macroeconomic shifts continue to influence digital asset valuations.Bitcoin was trading near $94,500 as of Thursday afternoon, with volatility expected to remain elevated heading into next week.
