Bitcoin ETF inflows return to peak pace as bears run out of room
As seen on the 24/7 Wall St. homepage on September 30, 2026.
Bloomberg's top ETF analyst says spot bitcoin fund flows are back to their peak pace, enough to push price higher through a failed CLARITY Act and rising Treasury yields.
New from me: Bitcoin Bears Ponder Long Hibernation as ETF Inflows Buoy Price.. Bears got leftover negative sentiment, Clarity failing and rising yields and yet price grinded higher and ETF flows have returned to former glory. That's gotta be demoralizing for bears even if they https://t.co/kk5LPrijWp
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Bloomberg's senior ETF analyst Eric Balchunas published a piece on September 30 arguing that spot bitcoin ETF flows have returned to what he calls "former glory," a pace strong enough to grind prices higher even as the macro backdrop stayed hostile.
Bears had real ammunition: the CLARITY Act failed to advance, Treasury yields kept rising, and negative sentiment lingered from earlier in the year. None of it was enough to push price down, which Balchunas describes as demoralizing for the short side.
The dynamic matters because ETF inflows represent persistent, structured demand. When that kind of buying absorbs bearish macro pressure without flinching, it narrows the window for a sustained selloff.
With the flow picture back at peak levels and the legislative catalyst for bears gone, the burden of proof has shifted. Bears would need a new and sharper catalyst to break what the inflows are currently holding together.