Bitcoin Hits $125K Amid Record ETF Inflows

Bitcoin surged this week to fresh all-time highs around $125,000–$126,000, driven by record exchange-traded product inflows totaling about $5.95 billion globally and heavy demand for U.S. spot ETFs. BlackRock’s IBIT led flows, drawing nearly $970 million in a single day and is closing in on $100 billion in assets under management. Technical analysis signals the steep uptrend remains intact, with a clean daily breakout putting $135,000–$140,000 in view and immediate supports near $123,000–$118,000. The macro backdrop is mixed — the MOVE volatility index has eased even as the dollar and Treasury yields remain resilient, and Goldman Sachs warned that moves in Japan’s bond market could spill over to global bonds. Strategic research from some firms (including VanEck) is bullish on Bitcoin’s long-term store-of-value potential after the April 2028 halving, though analysts caution about consolidation risk after rapid gains. Market structure — steady ETF inflows meeting thin liquidity and concentrated flows into large funds — amplified price spikes and elevated volatility in smaller tokens.