Crypto Market Roundup: Bitcoin Holds Firm Near $91K Amid Strong ETF Inflows

Bitcoin (BTC) continues to show resilience, trading near $91,000 after briefly dipping to just above $89,000. While it’s still 2% below its all-time high of $93,445 set on Wednesday, BTC has gained 4.5% in the last 24 hours. U.S. spot Bitcoin ETFs remain a key driver of this rally, recording $510 million in inflows on Wednesday alone, pushing the six-day total to an impressive $4.7 billion. Analyst Checkmate highlighted the dominance of ETFs in absorbing BTC supply, noting that this rally is spot-driven with minimal activity in CME futures markets.

In the political arena, Republicans have secured control of the House of Representatives, completing a trifecta alongside Donald Trump’s presidency and Senate victories. This shift in power is expected to favor pro-crypto legislation, given the GOP’s role in advancing crypto bills over the past year. Analysts foresee a favorable regulatory environment emerging from the Republican-led Congress.

Institutional interest in digital assets is surging. A survey by digital asset bank Sygnum revealed that 57% of institutional investors plan to increase their crypto holdings, reflecting a growing appetite for risk and confidence in the sector’s long-term potential. The study, covering over 400 investors across 27 countries, found 65% are bullish long-term, with 63% planning new allocations within the next three to six months.

Chart of the Day: Retail Interest in Bitcoin Surges

Google search data reveals a significant increase in U.S. searches for “bitcoin,” reaching levels unseen since the Terra/Luna crisis in June 2022. This surge in retail curiosity could signal higher trading volumes and prices, potentially igniting a fresh wave of speculative activity in the market.