Balchunas Says Bitcoin Jump Was Fueled by $2 Billion of ETF Inflows, Supply Shortage
Minseung Kang
Forecast Trend Report by Period
About $2 billion flowed into US spot-Bitcoin exchange-traded funds last week. Over the same period, Bitcoin surged from $64,000 to $77,000.
On August 24, Bloomberg ETF analyst Eric Balchunas wrote on X that Bitcoin ETFs took in about $2 billion last week, marking their best week since October 2025.
He also said Bitcoin climbed rapidly from $64,000 to $77,000 during that stretch.
Balchunas said the move showed one of the advantages of an asset facing a persistent supply shortage, arguing that Bitcoin's limited supply structure helped drive the rally.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.