Bitcoin Price Targets $101,700 After Spot ETFs’ $700 Million Inflows, Here’s Why
Bitcoin is targeting $101,700, driven by strong spot ETF inflows and reduced exchange supply.Summary
Bitcoin's price is extending its upward momentum, targeting $101,700 following a breakout from a consolidation pattern. This bullish outlook is supported by significant institutional demand, evidenced by spot Bitcoin ETFs recording $697 million in inflows on Monday, the strongest single-day intake since October 2025. Historically, such accumulation periods precede sharp price advances. Furthermore, investor behavior supports the rally, as exchanges show consistent net Bitcoin outflows, indicating investors are moving BTC to self-custody rather than selling, which limits available supply. Short-term holders are also increasing their share of total supply, suggesting fresh demand is entering the market despite elevated prices. Technically, the breakout from a descending wedge pattern projects an upside target near $101,787. However, momentum could stall if selling pressure emerges near $95,000, with $91,511 serving as a critical support level.
(Source：BeInCrypto)