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Bitcoin Consolidates Below $110K as ETFs Add $2.7B in One Week
- Bitcoin reached an all-time high of US$111,970 four days ago but has since struggled to maintain above US$110k.
- Bitfinex analysts describe the current price action as “healthy consolidation” driven by structural long-term investment rather than speculative trading, despite macroeconomic headwinds from Trump’s tariffs.
- US spot Bitcoin ETFs continue strong institutional accumulation, adding US$2.7 billion last week with total holdings now at 1.2 million BTC, led by BlackRock’s IBIT with US$2.4 billion inflows.
- However, one holder sits even above major institutional players such as BlackRock and MicroStrategy.
Bitcoin hit an all-time high (ATH) of US$111,970 (AU$172,644) just four days ago, but has since struggled to stay above the US$110 k (AU$169.6 k) mark. At the time of writing, BTC trades at US$108,379 (AU$167,116), down 1.3 per cent in the past 24 hours.
According to analysts at Bitfinex, the current trajectory of Bitcoin is a “phase of healthy consolidation”.
In a report, the analysts point to solid buying of spot Bitcoin ETFs, surging spot-market participation and positive net realised-cap growth. Together, these show investors are committing real capital in a measured, on-chain manner – a “structural” build-up of positions – rather than fuelling the market with short-lived speculative bets that quickly reverse.
This is despite ongoing macroeconomic headwinds around Trump’s tariffs, which remain volatile and ever-changing.
Spot ETFs Keep Accumulating
Institutional interest remains strong indeed, with the US spot Bitcoin ETFs adding another US$2.7 billion (AU$4.16 billion) last week.
Related: Dubai Land Department Selects XRP Ledger to Power Landmark Real Estate Tokenisation
The US funds now hold 1.2 million BTC, accounting for 5.76 per cent of 21 million. BlackRock’s IBIT continues to be the major driver of this growth, with US$2.4 billion (AU$3.7 billion) flowing into that fund alone.
The BlackRock ETF now has 3.1 per cent of all Bitcoin under its management, and is one of the fastest growing ETFs in history.
Biggest HODLer of Them All? It’s Not IBIT, Sailor
And in a surprise to absolutely nobody, Michael Saylor’s Tyson, Virginia–based Strategy (formerly known as MicroStrategy) has also been buying more Bitcoin.
Related: Trump Media Fires Back at $3B Bitcoin Buy Rumors as “Pure Fiction”
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But guess who is an even bigger holder than IBIT and Saylor? Satoshi Nakamoto. The infamous Bitcoin founder has US$120 billion (AU$185.2 billion) worth of Bitcoin in a wallet – making Nakamoto the 11th richest person in the world.
Author
Aaron Feuerstein
Aaron Feuerstein is a freelance writer based in Melbourne. His focus is on decentralised finance and the regulatory space surrounding blockchain. He holds a Master's in Accounting. When he is not studying the latest legal case, he enjoys his time as a modest but eager hobby cook.
