Bitcoin crossed the $110,000 threshold for the first time on Wednesday, triggering renewed interest from US-based investors.
The price action coincided with a sharp rise in inflows into spot Bitcoin ETFs, which jumped 85% in a single day to reach $609 million.
The increased activity points to rising institutional and retail demand from US markets, with analysts tracking a positive shift in sentiment as the coin eyes new highs.
This resurgence comes after weeks of consolidation, suggesting that Bitcoin’s upward momentum is being reinforced by macro-level support from regulated investment products and investor appetite across exchanges.
Premium Index hits 24-day high
On-chain data from CryptoQuant shows that the Coinbase Premium Index (CPI) spiked to its highest level in 24 days as BTC broke above $110,000.
This metric tracks the price difference between Bitcoin on Coinbase and Binance, offering insight into regional demand dynamics.
When CPI is above zero, it suggests strong buying pressure from US investors. A negative reading reflects muted interest or sell-offs in US markets.
The recent spike indicates that traders on Coinbase were willing to pay a premium, showing bullish sentiment tied to American investor behaviour.
ETF inflows keep rising
The inflow into spot Bitcoin ETFs reached $609 million on Wednesday, up from $329.02 million the previous day.
This marks six straight days of net positive flows, indicating growing interest in regulated investment products tied to BTC.
This surge in capital into ETFs comes amid broader optimism around Bitcoin’s long-term potential, following earlier hesitation in the first quarter of 2025.
Increased regulatory clarity and improving market conditions have contributed to this trend, making ETFs a key vehicle for traditional investors entering the crypto space.
The momentum in ETF investments is helping to reinforce BTC’s recent rally, particularly among institutional participants who prefer regulated exposure to volatile assets.
BTC price: technical outlook
At the time of writing, BTC trades at $111,084, just below its all-time high of $111,888.
Source: CoinMarketCap
According to daily chart data, Bitcoin’s Chaikin Money Flow (CMF) stands at 0.30, indicating capital inflows remain strong.
A CMF reading above zero points to net buying activity, supporting the thesis that traders are accumulating rather than exiting positions.
If this momentum persists, BTC may reclaim its recent high and establish a new price record.
However, a downside correction remains possible if profit-taking intensifies. In that scenario, analysts suggest a short-term dip towards $103,882 as a potential support level.
Macro and ETF trends in focus
The coordinated rise in both CPI and ETF inflows underscores the role of the US market in shaping Bitcoin’s near-term trajectory.
While global liquidity and investor sentiment continue to evolve, the data suggests that demand from US institutions and retail traders remains a dominant driver of price movements.
As long as ETF inflows stay positive and technical indicators reflect accumulation, the bullish case for BTC remains intact.
However, traders are also monitoring potential headwinds from macroeconomic shifts or regulatory updates, which could influence market dynamics in the coming weeks.
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