U.S. spot Bitcoin ETFs pulled in $787 million in net inflows last week, the strongest weekly showing since early March. The move came alongside another large Bitcoin purchase by MicroStrategy, reinforcing a market tone that remained firmly constructive.
According to the report, MicroStrategy bought $330 million worth of Bitcoin over the week, lifting its total holdings to 766,970 BTC. Estimates cited in the article suggest the company added roughly 8,000 BTC during that period. Year to date, total net inflows into U.S.-listed spot Bitcoin ETFs have reached about $2 billion.
MicroStrategy buying and ETF demand tighten supply
10x Research founder Markus Thielen said large-scale corporate accumulation and reduced ETF-related supply have helped limit downside pressure for Bitcoin. He added that technical indicators are now pointing to oversold conditions, while stronger momentum in mining stocks supports his base-case target of $88,000 for Bitcoin.
Shares of publicly traded U.S. Bitcoin mining companies have climbed between 10% and 30% this month. Over the same period, the S&P 500 rose 4% and Nvidia gained 6%. Thielen said some miners expanding into AI hosting signals a return of investor interest toward the sector.
Coinbase premium rises as regulatory expectations build
Another sign of stronger U.S. demand came from the Coinbase Premium Index, which rose to 0.0586%, its highest reading since October. The index tracks the price gap between Coinbase in the U.S. and Binance internationally, and the spike points to heavier buying pressure from American investors.
Matt Mena, senior strategist at 21Shares, said the chances of the Clarity Act being enacted later this quarter are increasing. In his view, the bill could establish a clearer regulatory structure for crypto and address the ongoing jurisdiction dispute between the Securities and Exchange Commission and the Commodity Futures Trading Commission. The article said the odds of the act becoming law this year are currently estimated at 65%. It has already passed the House and is waiting for Senate review.
Mena also said a move back above $73,000 could open the way for another test of $75,000. If Bitcoin clears $80,000, he said price acceleration may follow, with $100,000 still discussed as a possible peak target for the quarter.
Supply between $70,000 and $80,000 remains scarce
On the macro side, the report described inflation data as mixed. Consumer Price Index data showed a 0.9% monthly increase and 3.3% annual inflation, with a 10% jump in energy prices as the main driver. Core inflation, excluding food and energy, rose 0.2% month on month and 2.6% year on year, slightly above expectations. The article said underlying price pressures are still viewed as relatively contained.
Vikram Subburaj, CEO of India-based exchange Giottus, said Bitcoin supply in the $70,000 to $80,000 range is extremely tight. He said only 1% of circulating Bitcoin is available in that zone, a setup that could make resistance levels easier to break.