Bitcoin enters the weekend with cautious optimism as ETF flows resume

As bitcoin once again dipped under $100,000 Friday morning, down 20% from its October 6 all-time high, some analysts see the light at the end of the tunnel, thanks in part to the resumption of inflows into bitcoin ETFs. On Thursday, the funds attracted $240 million in flows, following six consecutive days of outflows, according to SoSoValue.

“Overall, market remains in a fragile equilibrium, with weak demand, controlled losses, and high caution. A sustained recovery requires renewed inflows and reclaiming the $112K–$113K region as support,” Glassnode analysts said in a report.

Nic Puckrin, cofounder of Coin Bureau, told Sherwood News that while the inflows might signal the end of the selling pressure, the “weekend will be a real nail-biter, though, with lower liquidity potentially setting the stage for even more volatility.”

“Eventually, though, there will be no more sellers left in the market, and bulls will take over. It may just be a wild ride for a while,” he said.

Timothy Misir, head of research at Blockhead Research Network, echoed the sentiment, saying the market is entering the weekend “with balance restored in a fragile, but improving outlook.”

“Bitcoin’s defense of the $100,000 level, the return of ETF inflows, and renewed whale accumulation all point to a short-term stabilization phase rather than a continuation of panic selling,” Misir said.

He added, however, that failure to hold $100,000 could expose bitcoin to a deeper retracement toward the $93,000 to $95,000 range. In addition, inflows reversing “would suggest renewed institutional hesitation and break recovery momentum,” and an extended shutdown could reintroduce funding stress and liquidity tightening, he said.

Meanwhile, JPMorgan analysts remain confident about the asset, expecting “significant upside for bitcoin over the next 6-12 months” and a price “close to $170K” as “the rise in gold volatility over the past month has made bitcoin more attractive to investors.”

“The gap between the bitcoin price and our volatility-adjusted comparison to gold shifted from highly positive territory at the end of 2024 to negative territory currently, with the bitcoin price currently being $68K too low compared to gold, having been $36K too high at the end of 2024,” the analysts wrote.

Gracy Chen, CEO of Bitget, also remains bullish about bitcoin, saying the $100,000 level will hold despite the 365-day moving average falling below $102,000, a “level that anchored this bull cycle.”

“Bitcoin bounced from $100K several times in May and June 2025, and, notably, on June 22, it reversed sharply and surged to almost $123,500 within three weeks. That same pattern of resilience may now repeat,” she said.