U.S. Bitcoin ETF sees first consecutive fund inflows in recent months: Market turning point signal or technical rebound?

Bitcoin prices rebounded above $69,000 after touching a low of $60,000. Meanwhile, the US spot Bitcoin ETF experienced its first consecutive net inflow of funds in nearly a month. Does this signal a return of market confidence or is it merely a brief respite during the decline?

In early February, the US spot Bitcoin ETF recorded a single-day net inflow of nearly $562 million, ending a period of continuous outflows. According to SoSoValue data, this shift began with a net inflow of $561.89 million in early February, and on February 9, the market saw its first consecutive net inflow in nearly a month.

Market Turning Point: New Trends in ETF Capital Flows

After a period of capital outflows, the US Bitcoin ETF market has recently shown positive signs. In early February, these ETF products experienced a single-day net inflow of nearly $562 million, marking the largest single-day capital injection since mid-January. More notably, the US Bitcoin ETFs saw their first consecutive net inflow in nearly a month.

US Bitcoin ETF Capital Inflows/Outflows (SoSo Value)

In terms of specific fund allocation, major products like BlackRock’s IBIT and Fidelity’s FBTC led the inflows. In contrast, Ethereum ETFs continued to face capital outflows during the same period.

Market Context: A Breather After Sharp Corrections

The return of ETF capital inflows comes after Bitcoin experienced a significant correction. The price of Bitcoin fell over 40% from its all-time high of $126,000 in October 2025. In early February, Bitcoin briefly broke below the key support level of $60,000, hitting its lowest point since April 2025.

Market analysis suggests that this sell-off was driven by multiple factors: forced liquidation of leveraged positions, increased volatility in safe-haven assets like gold, a broad tech stock correction, and investors taking profits after the “pro-cryptocurrency policies” promised by Trump.

Institutional Dynamics: Short-term Adjustment or Long-term Retreat?

Despite recent large capital outflows, analysis indicates that the main drivers of short-term selling are not core institutional investors. JPMorgan reports that the selling pressure mainly came from retail ETF investors rather than native crypto institutions.

Long-term holders, however, show resilience. For example, MicroStrategy increased its holdings by 185 BTC after the price dropped below $82,000, emphasizing “unchanged long-term faith.”

Meanwhile, the total assets under management (AUM) of ETFs have changed relatively little compared to the price decline. Data shows that since early October 2025, the combined AUM of 11 Bitcoin ETFs has decreased by only about 7%, from 1.37 million BTC to 1.29 million BTC.

Bitcoin ETF AUM (Checkonchain)

Gate Platform Data: Bitcoin Price and Market Analysis

As of February 10, 2026, data from the Gate platform shows Bitcoin’s current price at $69,045.9, with a 24-hour trading volume of $949.1 million, a market cap of $1.41 trillion, and a market share of 56.14%.

Recently, Bitcoin’s price declined 1.45% within 24 hours but increased 1.83% over the past 7 days. Notably, the price has fallen 22.05% over the past month and 26.75% over the past year.

The current circulating supply is 19.98 million BTC, with a maximum supply of 21 million BTC, meaning over 95% of Bitcoin has been mined.

Price Outlook: Analyst Predictions and Market Expectations

Despite recent volatility, many institutions and analysts remain optimistic about Bitcoin’s long-term prospects. Bernstein recently set a target price of $150,000 for 2026. This aligns with Haseeb Qureshi, managing partner at Dragonfly Capital, who expects Bitcoin to rise approximately 67% by the end of 2026, surpassing $150,000.

Data from the Gate platform projects an average Bitcoin price of $70,791.3 by 2026, with a range between $57,340.95 and $91,320.77. Looking further ahead, by 2031, Bitcoin could reach around $149,511.29, representing a potential return of +92.00% from current levels.

Market Narrative Shift: From “Digital Gold” to Growth Asset

It’s noteworthy that Bitcoin’s market narrative is subtly changing. Unlike its traditional role as “digital gold,” recent performance resembles that of tech growth stocks.

When Bitcoin dropped to about $60,000 on February 5, this movement was more correlated with declines in high-growth software stocks rather than gold’s safe-haven behavior. This shift in correlation suggests Bitcoin’s role in investment portfolios may be redefined.

Regulatory developments are also a focus. While the US “Digital Asset Market Clarification Act” has seen some progress, key provisions remain contentious. Clarifying the regulatory environment will significantly influence institutional participation.

When Bitcoin fell below $60,000 in early February, the prevailing pessimism nearly obscured the fact that just a month earlier, it was close to $98,000. The market structure is undergoing a fundamental transformation—from a retail-driven speculative frenzy to a new paradigm of institutional-led value investing. Citigroup analysts note that Bitcoin has fallen below the average entry price of US spot ETFs at $81,600 and is approaching the pre-U.S. election level of around $70,000. Every correction is building energy for the next rally.

As ETF capital flows resume, the market appears to be seeking a new equilibrium. Bitcoin may no longer be purely “digital gold,” but is evolving into a new asset class that combines store of value, growth potential, and technological innovation.