The price of Bitcoin has surged past $104,000 this morning, and it’s no accident. A mix of surging institutional inflows, record-breaking ETF momentum, and growing corporate adoption are fueling this rally. Here’s what’s helping contribute to the rising price of Bitcoin.
Big institutions like banks, asset managers, and even some companies are putting money into Bitcoin through ETFs (exchange-traded funds).
On Wednesday, James Seyffart of Bloomberg ETF Research reported that spot Bitcoin ETFs have officially hit a new all-time high in lifetime flows, reaching $40.33 billion, according to Bloomberg data. This marks a sharp recovery from the dip earlier this year and signals strong investor conviction.
“Lifetime net flows is #1 most imp metric to watch IMO, very hard to grow, pure truth, no bs,” said Ericl Balchunas, Bloomberg Senior ETF Analyst. “Impressive they were able to make it to new high water mark so soon after the world was supposed to end. Byproduct of barely anyone leaving, left only a tiny hole to dig out of.”
ETF resilience suggests institutional investors not only just didn’t flinch during recent market corrections, but started buying more — a key signal that further shows Bitcoin’s base is strengthening. The data also supports the case that many of these investors are in for the long haul, not quick flips. The ETFs have been on a buying spree, helping push up the price.
At the same time, macro adoption trends are accelerating. Strategy Executive Chairman Michael Saylor noted earlier this week at the Bitcoin For Corporations event at Strategy World 2025 that “Bitcoin treasury companies are getting exponentially more powerful.” Japanese public company Metaplanet CEO Simon Gerovich shared that he believes a “tidal wave” of more companies will be adopting Bitcoin as a reserve asset.
This outlook is backed by Strategy CEO Phong Le’s prediction that the number of corporate Bitcoin holders will skyrocket to from 70 to 700 companies by next year. It’s a bold forecast, but one supported by the increasing popularity of Bitcoin as a treasury reserve asset in a time of dollar debasement and sovereign debt concern.
Julien Bittel, Head of Macro Research at Global Macro Investor, shared a chart showing how Bitcoin’s price continues to closely follow the global M2 money supply — a measure of worldwide liquidity. His updated chart shows a strong correlation, with a clear upward trend. “We’re going higher,” Bittel commented, suggesting that as more money flows into the global economy, some of it is landing in Bitcoin.
All signs point to momentum building: institutional demand via ETFs, corporate treasury adoption, M2 correlation, and investor confidence appear to be pushing Bitcoin upward.
In addition to all this, there’s growing belief that Bitcoin is becoming more accepted as a long-term store of value — like digital gold. On top of that, with inflation fears and concerns about the U.S. dollar, some investors are turning to Bitcoin as a way to protect their money.
Supporting the bullish technical narrative, ChartsBTC reported on X this week that Bitcoin’s current price of $102,766 reflects a 10% year-to-date gain, up from $93,381 at the end of 2024.
