Bitcoin’s Surge Past $123,000

Bitcoin’s recent rally past $123,000 is fueled by surging institutional demand, with spot ETF inflows exceeding $4 billion in July alone.

The price increased from $105,000 at the start of the month to a record high on Monday, indicating growing confidence among both retail and institutional investors.

The total market cap of spot Bitcoin ETFs is nearing $150 billion, showcasing the significant capital influx since their launch in January 2024. BlackRock’s iShares Bitcoin Trust (IBIT) stands out as the leading player, holding over $83 billion.

According to Farside Investors data, spot Bitcoin ETFs experienced over $4 billion in inflows during July, marking the strongest monthly growth since their introduction. More than $2.2 billion flowed in last Thursday and Friday, with BlackRock’s IBIT alone capturing $1.35 billion over those two days.

As of now, Bitcoin is trading around $117,700. With demand increasing and ETF flows on the rise, analysts suggest that reaching $140,000 in the coming months remains a possibility.