Bitcoin Continues Upward Trend as ETF Demand Persists
Bitcoin is steadily climbing, fueled by consistent inflows into U.S. spot Bitcoin exchange-traded funds (ETFs). On Tuesday, these ETFs attracted $66.19 million, marking their ninth consecutive session of net inflows, according to Decrypt’s Bitcoin ETF tracker. By Wednesday, Bitcoin was trading near $84,400, a roughly 1% increase for the day, recouping losses from Monday.
Sustained Inflows Drive Rally
This recent surge began on September 17 and has since accumulated approximately $3.08 billion in inflows, based on Decrypt data. This performance surpasses August’s nine-day streak, which ran from August 17 to August 27 and totaled around $3.04 billion. While the length of the streaks is identical, the current run has brought in an additional $33 million, a notable difference given that the August rally is widely credited with pulling Bitcoin out of a bear market.
Understanding Bitcoin ETFs
Bitcoin ETFs offer investors a way to gain exposure to the cryptocurrency without directly purchasing Bitcoin on an exchange or managing a digital wallet. These ETFs track Bitcoin’s price and trade like traditional stocks on brokerage platforms. They have seen significant popularity since their introduction two and a half years ago, with market observers closely monitoring their inflows and outflows as a key indicator of investor sentiment.
Sentiment Shift Amidst Economic Factors
Investor sentiment has undergone a significant shift in recent weeks. On September 16, the Federal Reserve increased interest rates by 25 basis points to a range of 3.75%–4%, the first such hike since 2023. This move, which traders had anticipated with nearly 93% certainty, typically makes investors more cautious about riskier assets like Bitcoin due to the increased cost of borrowing.
Following the rate hike, Bitcoin experienced a dip to around $75,000 that week, and its ETFs saw outflows totaling approximately $746 million over two days. However, the trend reversed on September 17 with inflows of $159.5 million, and Bitcoin quickly surpassed the $80,000 mark within two days.
Record Weekly Inflows
The influx of capital accelerated rapidly thereafter. Inflows reached $999 million on September 21, and the week ending September 25 recorded $2.4 billion in inflows, the largest weekly haul since October 2025. This substantial inflow pushed the funds back into positive territory for the year 2026.
The broader economic environment has not necessarily eased. Bitcoin’s summer rebound can be traced back to August 19, when the Treasury announced it would double its longer-dated bond buybacks to at least $4 billion per operation. On that day, Bitcoin reached $69,000 for the first time in two months.
Currently, Bitcoin remains about a third below its all-time high of $126,296, set in October 2025. The current streak of inflows, however, still trails the 13 consecutive days of inflows seen in June 2025. To match that record, inflows would need to continue through Monday, October 5.
