Key Takeaways
Bitcoin is trading just 4% below its all-time high, boosted by positive US-China trade talks.
US-listed Bitcoin ETFs saw over $1 billion in inflows, with BlackRock’s fund continuing a 19-day winning streak.
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Bitcoin surged to a high of $104,900 on Saturday evening, just around 4% shy of its all-time high, after President Donald Trump said US-China talks had made great progress during a meeting in Switzerland, TradingView data shows.
In a statement on Truth Social, Trump said that the discussions were constructive and friendly, describing the outcome as a total reset. He noted the agreement on a “total reset” in relations and renewed efforts to open Chinese markets to American businesses.
“Many things discussed, much agreed to,” Trump wrote. “A total reset negotiated in a friendly, but constructive manner. We want to see, for the good of both China and the US, an opening up of China to American business. GREAT PROGRESS MADE!!!”
Markets interpreted the statement as a positive sign of easing global tensions, which helped extend Bitcoin’s already bullish momentum, fueled by macro and institutional factors earlier in the week.
Fed flexibility and ETF flows support Bitcoin’s latest breakout
Multiple factors have supported Bitcoin’s upward momentum.
On Wednesday, Fed Chair Jerome Powell indicated the central bank’s readiness to cut interest rates if conditions warrant, reassuring markets amid controlled inflation and easing tariff tensions. Bitcoin topped $99,000 mid-week before extending its rally to $100,000.
According to Bitfinex analysts, the move above $100,000 reflects real demand, not speculative excess.
“Bitcoin’s move back above $100K is a clean breakout driven by strong fundamentals and improved macro optics,” Bitfinex analysts said in a statement. “The Fed showed it’s ready to cut if needed—without the urgency of inflation risk, thanks to easing tariff tensions. This creates a “policy optionality” regime: a neutral Fed with bullish macro implications.”
Analysts also noted robust spot ETF inflows, strong on-chain accumulation, and declining exchange balances as a sign of real demand.
“Under the surface, spot ETF flows remain firm, particularly during U.S. hours. Open interest is high but not frothy, and funding is neutral—this is real demand, not leverage-driven price chasing. Exchange balances continue to decline, and on-chain accumulation by long-term holders has resumed,” Bitfinex analysts stated.
US-listed spot Bitcoin ETFs recorded strong performance this week, with total inflows exceeding $1 billion and net inflows of over $920 million across four out of five positive trading days, per Farside Investors’ data.
BlackRock’s iShares Bitcoin Trust maintained its position as the largest Bitcoin fund, extending its winning streak to 19 consecutive trading days.
“This is not a melt-up—it’s a structurally supported move. As long as ETF and institutional flows persist and the macro stays stable, dips will likely be brief. The path of least resistance remains higher,” said analysts.
New players join corporate Bitcoin game
Meanwhile, Bitcoin is seeing stronger corporate adoption, with established players like Strategy, MARA Holdings, and Metaplanet maintaining their accumulation approach as new Bitcoin-centric firms enter the scene.
Earlier this week, Strive Asset Management, backed by Vivek Ramaswamy, announced a merger with Asset Entities to form a publicly traded Bitcoin treasury company. The new firm aims to maximize Bitcoin exposure per share, with a goal of raising up to $1 billion through equity and debt.
On Wednesday, BTC Inc. CEO David Bailey raised $300 million for Nakamoto, a new Bitcoin investment firm, according to CNBC. The company secured $200 million in equity and $100 million in convertible debt, with plans to go public through a merger with a Nasdaq-listed company this summer.
“While short-term moves are often noisy, the long-term trend remains upward. This strength reflects a stable US equity market, rising global liquidity, and growing recognition of bitcoin as a perfectly scarce monetary asset,” said Joe Burnett, Director of Market Research at Unchained, in a comment.
“We’re also seeing more bitcoin treasury companies use cash flow and financial engineering to accumulate bitcoin—something I’ll explore further in next Wednesday’s online event with Strive’s executive team,” he added.
These new establishments came after Cantor Fitzgerald, in collaboration with Tether and SoftBank, launched Twenty One, a Bitcoin-native firm aiming to accumulate over 42,000 BTC. Led by Jack Mallers, the initiative focuses on building financial products native to the Bitcoin standard.
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