Bitcoin Holds Above $106K As ETF Inflows Continue, Institutions Stay Bullish

After a week of choppy moves, Bitcoin (CRYPTO: BTC) is holding steady above $106,000. The price follows ETF inflows and regulatory tailwinds from the Senate, fueling the latest push.

Around $1.1 billion in short positions are at risk of liquidation if BTC breaks $108,000 — a move that could add momentum in the coming days.

Tuesday marked the fifth straight day of net inflows into U.S. spot Bitcoin ETFs, totaling $41.7 million. It reflects consistent appetite from institutional buyers, especially in a market that’s seen retail participation stay muted. ETF activity is becoming a key driver — not just of sentiment but of actual price action.

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The Senate just passed the GENIUS Act, a bipartisan stablecoin bill that’s now headed to the House. Texas also cleared SB21, giving the state authority to hold Bitcoin on its balance sheet. The new SEC chair is pushing for clearer token guidelines, causing more movement on the policy front than we’ve seen in months.

Total BTC futures OI jumped 10.65% week-over-week to $74.35 billion, with Binance (CRYPTO: BNB) accounting for the largest share at $12.28 billion. Open interest is climbing, traders are clearly leaning in, and the growing pile of liquidations of around $107.5K is a level most are watching closely.

According to CoinDesk, the annualized spread between spot ETF prices and CME futures is nearing 9%. The classic long-ETF, short-futures setup tends to show up when there’s strong directional conviction among funds.

Bitcoin is moving within an ascending channel, posting higher highs and consolidating gains. Options data shows heavy call interest at $110K–$120K, which lines up with the upside traders are positioning for if this current move sticks.

Last weekend’s dip from $106K to $103K was a reminder that sell pressure shows up fast when BTC stalls near resistance. Key support sits around $102.2K, where roughly $52 million in long liquidations would get triggered on a breakdown.

JP Morgan Chase & Co. (NYSE:JPM) expects BTC to outperform gold next year, citing rising state-level adoption. Standard Chartered is calling for a potential move to $120K soon—and $200,000 by year-end if institutional demand keeps up.

Retail interest, though, is still absent. According to Google Trends, the U.S. search volume for “Bitcoin” is flat. This isn’t a hype cycle—it’s a quiet accumulation phase driven by funds, firms, and policy shifts. For now, all eyes are on $108K.

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