Bitcoin Breaks $105,000 as BlackRock ETF Records $2.3 Billion in Weekly Inflows
The world's largest cryptocurrency hit a new milestone as institutional demand accelerates, with spot Bitcoin ETFs collectively absorbing more supply than miners produce each week.
Bitcoin has now gained over 340% from its 2023 cycle low of approximately $24,000.
Key Points
- Bitcoin traded above $105,000 for the first time on record
- BlackRock iShares Bitcoin ETF recorded $2.3B in weekly net inflows
- Total spot Bitcoin ETF assets under management exceeded $85 billion
- MicroStrategy holds over 570,000 BTC on its balance sheet
- Standard Chartered raised 2026 year-end target to $130,000
Bitcoin crossed the $105,000 mark for the first time in its history on Friday, capping a week of extraordinary institutional buying that analysts say has fundamentally changed the market's supply-demand dynamics.
BlackRock's iShares Bitcoin Trust (IBIT) recorded $2.3 billion in net inflows last week alone — surpassing the total amount of Bitcoin mined globally in the same period. This structural imbalance between institutional demand and new supply has sent prices relentlessly higher since the start of 2026.
Institutional Demand Has Changed Everything
When the SEC approved spot Bitcoin ETFs in early 2024, skeptics argued the products would cannibalize existing crypto holders rather than bring fresh capital. Two years later, the data tells a very different story.
Total assets across all US-listed spot Bitcoin ETFs have now exceeded $85 billion. Corporate treasuries have followed: MicroStrategy holds 570,000 BTC, while companies from Japanese conglomerates to Middle Eastern sovereign wealth funds have added Bitcoin to their balance sheets.
"We're seeing something unprecedented — a commodity where institutional buying is systematically outpacing new supply. The price mathematics point to continued appreciation." — Standard Chartered Digital Assets Research
Post-Halving Supply Dynamics
The April 2024 Bitcoin halving reduced the block reward from 6.25 to 3.125 BTC, cutting new daily supply from approximately 900 coins to 450. Combined with ETF inflows of 3,000+ BTC per day, the market faces a daily supply deficit of over 2,500 BTC — a dynamic that fundamentally differs from any prior bull cycle.
What Analysts Are Saying
Standard Chartered raised its 2026 year-end Bitcoin target to $130,000 following Friday's move. The bank cited three catalysts: continued ETF inflows, post-halving supply compression, and the Fed's rate-cutting cycle reducing the opportunity cost of holding non-yielding assets.
For retail investors, Google Trends searches for "buy Bitcoin" have not yet reached the fever pitch seen during the 2021 bull run — which some analysts read as a sign that the rally has further to run before becoming crowded.
