Bitcoin Price Stagnant Despite 100,000 BTC ETF Inflows

Despite the ongoing inflow of billions of dollars into Bitcoin through exchange-traded funds (ETFs) and institutional purchases, the cryptocurrency's price has remained relatively stagnant. This phenomenon has sparked curiosity among investors, who are questioning why the price hasn't shown a significant surge. Experts suggest that the situation is influenced by a series of interrelated factors, not just the visible purchases.

Recent data indicates that the demand for Bitcoin through ETFs remains strong. Since the beginning of 2025, approximately 100,000 BTC have been netted by ETFs. However, despite this positive flow, a noticeable price surge has not materialized. Experts suggest that not all ETF purchases translate directly into institutional investments, as some stem from family offices or affluent individuals’ demands. Nonetheless, these acquisitions are perceived to positively influence the balance of supply and demand over the long term.

Corporate treasuries have also been actively accumulating Bitcoin. Notably, Strategy's portfolio surged from 528,000 BTC to 592,000 BTC throughout 2025, with the total Bitcoin holding in all treasuries surpassing 823,000 BTC. Given that Bitcoin’s market cap has reached trillion-dollar levels, witnessing significant price upticks akin to earlier periods might prove challenging under current market conditions. The price of Bitcoin has seen substantial appreciation, climbing from $40,000 at the time of ETFs’ introduction to over $110,000.

One reason for Bitcoin’s lack of an upward trend is the profit-taking by long-term investors. Indeed, around 240,000 BTC have been sold by investors holding between 1 to 5 years in the past three months. These sales largely counteract the impact of institutional and ETF purchases. Furthermore, miners introduce roughly 450 new BTC daily, increasing supply. This equilibrium in the market is highlighted as a key reason for stable pricing.

The derivative markets also witness considerable activity. Over recent years, open positions in Bitcoin derivatives soared from $5 billion to $25 billion. This indicates a predilection among investors for derivatives over spot Bitcoin transactions. The indirect nature of demand through derivative trading curtails the potential upward pressure on prices.

Recently, there has been a noticeable decrease in long-term Bitcoin investors’ selling velocity. Daily net sales dropping below 1,000 BTC are seen as a potential catalyst for future price increases. If institutional purchases continue and individual investor interest reignites, prices could potentially rise faster. Bitcoin Magazine writer Matt Crosby states, “If long-term investor sales dwindle while institutional purchases endure, a new Bitcoin rally may emerge.”

In previous periods, dramatic surges in Bitcoin prices have been noted when retail investor demand increased. Hence, emotional market movements are also considered influential on pricing. When all these elements are considered, continuous ETF and institutional purchases provide a steady flow of funds into Bitcoin. Still, profit sales by long-term investors and high open positions in derivative markets continue to exert downward pressure on prices. Given Bitcoin’s current market cap and supply-demand balance, extreme short-term price increases are limited. However, should sales dwindle while demand grows, moderate price appreciations could occur in the medium term. Monitoring this market balance closely and understanding the dynamics of supply and demand can help investors manage their investments more wisely.