Bitcoin exchange-traded funds (ETFs) in the U.S. recorded a net inflow of $442 million on Thursday, marking the fifth consecutive day of positive growth. Despite the latest inflow being lower than previous days’ figures, this sustained momentum indicates growing institutional confidence in Bitcoin, even amid ongoing global economic volatility.

As Bitcoin holds steady at $94,000, market optimism continues to build, with a strong push toward the $100,000 target. On-chain data also reveals a significant shift in Bitcoin’s profitability, indicating increased accumulation by investors.

BlackRock’s iShares Bitcoin Trust (IBIT) Leads Inflows

The biggest contributor to the latest wave of Bitcoin ETF inflows was BlackRock’s iShares Bitcoin Trust (IBIT), which secured $327.3 million in fresh capital. Other major players, such as Ark Invest and 21Shares’ ARKB, attracted $97 million, while Bitwise’s BITB and Invesco’s BTCO saw smaller gains of $10.2 million and $7.5 million, respectively.

Although Thursday’s inflows were less than the $916.9 million and $936.4 million seen earlier in the week, the ongoing demand reflects a growing institutional interest in Bitcoin as an investment vehicle. The total trading volume across U.S.-listed Bitcoin ETFs dropped to $2 billion, down from the previous day’s $4 billion. However, the broader trend continues to highlight increasing investor appetite for cryptocurrencies, especially as macroeconomic concerns persist.

The ETF inflows coincided with a strong session in the U.S. stock market, where the Nasdaq climbed 2.7%, the S&P 500 rose by 2%, and the Dow gained 1.2%, largely fueled by easing U.S.-China trade tensions. Bitcoin, in parallel, demonstrated resilience, trading at $94,552 at press time, according to CoinMarketCap. Ether also saw slight gains, up 0.43% to $1,778.

Bitcoin’s Profitability and Accumulation Surge

Bitcoin’s profitability metrics have also seen a significant shift. Data from Glassnode reveals that 87.3% of Bitcoin’s circulating supply is now in profit, up from 82.7% when BTC previously approached $94,000 in March. This uptick indicates a rise in buying activity during recent price pullbacks, as investors seized opportunities to increase their positions.

When more than 90% of Bitcoin’s supply is in profit, market sentiment often turns euphoric, which historically has led to rapid price rallies. This behavior has been observed in past cycles, where periods of high profitability triggered major price peaks.

Retail FOMO Signals Risk of Volatility

On-chain analytics firm Santiment observed a notable rise in retail investors’ fear of missing out (FOMO) as Bitcoin neared $94,000. Historically, heightened FOMO among smaller Bitcoin holders often coincides with local market tops, indicating the potential for short-term volatility.

While this sentiment adds caution to short-term price projections, the long-term outlook remains strong due to Bitcoin’s fundamentals and institutional adoption. Despite the FOMO-driven enthusiasm, Santiment warns that Bitcoin’s journey to $100,000 will likely require some cooling off before any major surges, with significant milestones typically following periods of consolidation rather than immediate hype-driven increases.

Prince Filip Karađorđević of Serbia, in a recent interview, also expressed his bullish view on Bitcoin, suggesting that an “omega candle” breakout could soon drive the cryptocurrency well beyond $100,000. While market forces may be suppressing Bitcoin’s upward move in the short term, Karađorđević remains confident that a breakout is imminent, signaling a potential long-term rally.

Conclusion

Bitcoin ETFs have seen impressive inflows, particularly from BlackRock’s iShares Bitcoin Trust, signaling strong institutional interest. Bitcoin’s profitability metrics are improving, with a large portion of the circulating supply in profit, which may signal a bullish market phase. However, rising FOMO among retail investors could indicate potential volatility in the short term.

As Bitcoin continues to demonstrate resilience and holds firm above $94,000, the road to $100,000 appears increasingly plausible, but patience may be required as the market works through periods of cooling before another major breakout. Whether institutional demand will continue to fuel Bitcoin’s climb remains to be seen, but the broader trend points to sustained interest in crypto investment vehicles, with the potential for a bullish shift in the coming months.