Bitcoin held steady above the $102,000 mark on Thursday, maintaining recent gains despite mild losses across the broader crypto market. At 6:00 a.m. ET, BTC was trading at $102,422—down 1.3% on the day but still near a three-week high.
Institutional inflows return as BlackRock leads
Investor sentiment improved after nearly $320 million poured into U.S.-based spot Bitcoin exchange-traded funds (ETFs) on Wednesday. BlackRock’s iShares Bitcoin Trust (IBIT) led the inflows, attracting $232.9 million alone.
This followed a day of net outflows totaling $96 million on Tuesday, when Bitcoin briefly dipped to $101,429. Despite the recent volatility, open interest in Bitcoin futures remains high at over $30 billion, and more than 98% of Bitcoin wallet addresses are still in profit.
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Technical signals suggest cautious momentum
Market data shows traders are positioning for more upside, but with caution. Bitcoin’s “Exchange Stablecoins Ratio” recently surged above 5.0, reaching 5.3. This metric, which compares Bitcoin reserves to stablecoin reserves on exchanges, may indicate rising sell pressure relative to buying liquidity.
Historically, spikes in this ratio—such as in January when it peaked near 6.1—have preceded sharp corrections.
Altcoins retreat as BTC dominates
While Bitcoin holds its ground, altcoins broadly retreated midweek:
- Ethereum (ETH) fell 3.8% to $2,574
- XRP dropped 3.6% to $0.498
- Solana (SOL) declined 5.6%
- Cardano (ADA) slipped over 5%
- Polygon (MATIC) shed 7.85%
- Dogecoin (DOGE) and $TRUMP both fell more than 5%
These moves reflect profit-taking and caution across the crypto space ahead of key macroeconomic reports.
Inflation data and Fed outlook in focus
Market attention now turns to the U.S. Producer Price Index (PPI) report due Thursday. A lower-than-expected read could reinforce expectations for a Federal Reserve rate cut later in 2025.
Earlier this week, optimism over U.S.-China tariff rollbacks and a cooler Consumer Price Index (CPI) report helped calm inflation fears. These developments have supported risk assets like Bitcoin, but analysts warn the Fed may wait for clearer signs of economic weakening before acting.
What happens next?
Bitcoin continues to trade within a bullish structure, supported by strong ETF demand and easing global trade tensions. However, rising exchange reserves and volatile altcoin action signal that market conditions remain fragile.
For now, $100,000 serves as a key psychological support. A break above $105,000 could re-ignite bullish momentum—but traders are watching closely for signals from both inflation data and institutional flows.