Bitcoin (BTC) Price: ETF Inflows of $608 Million Support Record Weekly Close

TLDR

Bitcoin achieved its highest weekly close ever at just below $106,500 Price reached $107,000 on Sunday, coming within 2% of January’s all-time high Bitcoin has posted weekly gains for six consecutive weeks Spot Bitcoin ETFs saw net inflows of $608 million with BlackRock’s fund leading MicroStrategy purchased another 13,390 BTC, bringing their total to 568,840 BTC

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Bitcoin has marked a historic milestone by achieving its highest-ever weekly close, settling just below $106,500 after a strong weekend performance. The leading cryptocurrency pushed toward $107,000 on Sunday, narrowing the gap to its all-time high of $109,358 set in January to approximately 2%.

The price has since pulled back to around $104,730 at the time of writing. Market analysts consider this retracement as normal consolidation following the recent upward movement.

This record close extends Bitcoin’s winning streak to six consecutive weeks of gains. The previous record for a weekly close was $104,400, set back in December before Bitcoin went on to reach its current all-time high in January.

May has been particularly strong for Bitcoin, with the price climbing from around $94,000 at the beginning of the month to over $106,000 – an increase of roughly $12,000.

Bitcoin also achieved its highest-ever daily close on May 18, another sign of the current strength in the market.

The weekly chart pattern resembles Bitcoin’s performance from last November, when it added approximately $30,000 in value over three of its largest weekly candles ever recorded.

Bitcoin (BTC) Price

ETF and Corporate Flows

The momentum behind Bitcoin’s price action appears to be backed by substantial institutional interest. US-listed spot Bitcoin ETFs recorded $608 million in net inflows for the week.

BlackRock’s iShares Bitcoin Trust emerged as the leader, attracting more than $840 million in new investment. This single fund brought in more money than all other Bitcoin ETFs combined.

The Coinbase premium, which measures the difference between Coinbase’s BTC/USD pair and Binance’s BTC/USDT pair, has returned. This metric is often used to gauge sentiment among US investors.

Some market observers noted unusual buying pressure for a Sunday evening, suggesting that “someone knows some important news dropping next week.”

Corporate accumulation continues to be a key factor in Bitcoin’s price performance. MicroStrategy, already the largest corporate holder of Bitcoin, announced the purchase of an additional 13,390 BTC worth approximately $1.3 billion.

This latest acquisition brings MicroStrategy’s total Bitcoin holdings to 568,840 BTC. The company’s aggressive buying strategy has become a benchmark for institutional adoption of cryptocurrency.

Market Dynamics

Market experts point to a fundamental imbalance between supply and demand as a primary driver of Bitcoin’s upward price trajectory. Matt Hougan, Chief Investment Officer at Bitwise, notes that demand is substantially outpacing available supply.

Miners are projected to produce only about 165,000 new BTC this year. Public companies and ETFs have already acquired more than this amount, creating upward pressure on price.

This supply-demand mismatch could potentially push Bitcoin well beyond its current levels, with some analysts suggesting $200,000 as the next major price target.

Bitfinex analysts described the current market conditions as “a structurally supported move” rather than a simple price surge. They added that “as long as ETF and institutional flows persist and macro stays stable, dips are likely to be brief and bought aggressively.”

A growing number of companies are either adopting Bitcoin or planning to hold it as a strategic reserve asset. Many are expected to continue their purchasing programs in the coming months.

The competition among nations to establish sovereign Bitcoin reserves is also expected to intensify, which would further constrain available supply in the years ahead.

People think BTC is like a magical unicorn that climbs to infinity on moonbeams. Here's the actual CAGR chart. We are well past the 2017 year where we'd see many 100s of percent growth.

Now look at 2020, that was the year BTC got institutionalised, corporations and sovereigns… pic.twitter.com/hcGAGZXkU5

— Willy Woo (@woonomic) May 18, 2025

Analyst Willy Woo examined Bitcoin’s compound annual growth rate (CAGR), noting that it is gradually decreasing as the network stores more capital. He compared this to long-term monetary expansion of 5% and GDP growth of 3%.

Woo estimated that Bitcoin’s annual growth rate will settle at around 8% in approximately 15-20 years. Until then, he suggested that Bitcoin’s performance will likely outpace nearly all other publicly available investment options.

Bitcoin is currently trading at $104,730, less than 3% away from reaching a new all-time high.

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