I recently observed an interesting phenomenon: the pace of institutional capital entering this round is really fast. Digital asset funds absorbed $1.2 billion in one go last Monday, bringing their total assets under management to $155 billion, a new high since February. Among them, Bitcoin alone took in $933 million—quite aggressive.

Even more interesting is that the crypto ETF sector is also exploding. Not only are funds directly holding spot assets pouring in, but those investing in blockchain stocks—such as miners, exchanges, and chip manufacturers—have seen $617 million flow in over the past three weeks. It seems some institutions are directly holding Bitcoin, but many are also entering indirectly through stocks, indicating that demand for this asset class is indeed heating up.

BTC recently touched $79,399, very close to the key level of $80,000. I checked, and investors who bought in during January and February are basically at break-even at this price, so there might be some selling pressure here. Whether it can break through $80,000 depends heavily on this week—Google, Microsoft, Amazon, and Meta will release their earnings reports on Wednesday and Thursday, and the performance of these tech giants could directly influence the overall market’s risk appetite.

Another point worth noting is that ETH absorbed $192 million last week, marking three consecutive weeks where inflows exceeded $190 million. From the data, institutional willingness to allocate to cryptocurrencies is indeed increasing, whether directly or indirectly. The next key question is whether this wave of institutional funds can absorb potential sell-offs or if the market will turn back at $79,000.