Bitcoin News Today: Bitcoin ETFs Drive $130B Surge Amid Looming Bear Risks

The crypto market added $130 billion in value as Bitcoin surged to weekly highs above $91,000, driven by renewed inflows into U.S. spot Bitcoin ETFs and shifting investor sentiment. U.S.-listed spot Bitcoin ETFs ended a five-day outflow streak on Wednesday, recording $75.4 million in net inflows as Bitcoin reclaimed the $92,000 level. BlackRock's iShares Bitcoin Trust (IBIT) led the rebound with $60.6 million in inflows, while the Grayscale Bitcoin Mini Trust ETF (BTC) added $53.8 million. Despite the uptick, these figures remain modest compared to recent outflows exceeding $500 million on some days. The rebound coincided with Bitcoin's price stabilizing after a week-long decline, which saw it dip as low as $88,500.

Technical analysis suggests Bitcoin's near-term trajectory remains uncertain. While the asset briefly broke the $93,000 resistance level, it faces bearish pressure below the $92,000 support zone.

On-chain metrics, including the Profit Supply Ratio (PSR), indicate growing bear market risks, with the PSR dropping below 70%-a historical precursor to shifts in market cycles. Analysts note that a further decline to the $60,000–$70,000 range could push the PSR below 50%, signaling a deeper correction and potential buying opportunities for long-term investors.

Longer-term price projections remain bullish, with forecasts suggesting Bitcoin could reach $160,000 by 2025 and $350,548 by 2031, driven by institutional adoption and macroeconomic factors like U.S. interest rate cuts. These predictions align with recent developments in the crypto ETP landscape, where providers like 21Shares are expanding offerings in Europe. The firm launched six new ETPs on Nasdaq Stockholm, including products for Aave (AAVE), Chainlink (LINK), and Polkadot (DOT), reflecting growing demand for diversified digital asset exposure. 21Shares now manages $8 billion in assets globally, underscoring the maturing infrastructure of crypto markets.

The ETF narrative, however, remains mixed. While Bitcoin ETF inflows showed signs of recovery, broader outflows continue to dominate. U.S. spot Bitcoin ETFs have seen nearly $3 billion in outflows in November alone, with BlackRock's IBIT experiencing its largest single-day outflow of $520 million on Tuesday. These trends highlight a tug-of-war between cautious investors and those capitalizing on dips. ETF trading volume increased to $6.89 billion on Wednesday, up 18% from the prior day, suggesting some buyers are positioning for potential year-end catalysts.

In parallel, the broader crypto ecosystem is witnessing strategic moves. Token Cat Limited, a Nasdaq-listed crypto asset manager, appointed Sav Persico as chief operating officer, signaling a push to strengthen operational and strategic execution in the sector. The company also announced a partnership to develop a cross-border supply chain cloud platform, aiming to boost overseas sales by $1 billion over three years. Such developments underscore the industry's pivot toward enterprise adoption and infrastructure expansion.

Bitcoin's current price action and market dynamics reflect a complex interplay of short-term volatility and long-term optimism. While immediate bearish indicators persist, the broader narrative of institutional interest and product innovation continues to underpin the asset's appeal. As the market navigates regulatory and macroeconomic headwinds, the coming months will test whether the recent inflows mark a sustainable trend or a temporary reprieve.