Spot Bitcoin exchange-traded funds logged their biggest single-day inflow in months, drawing about $1.2 billion as large investors stepped up exposure to the cryptocurrency. The move added fresh momentum to the market and helped lift Bitcoin above $112,000.

The buying came as traders looked ahead to the next halving cycle, a recurring event that reduces the rate of new Bitcoin issuance. Market participants often treat the event as a potential support for prices, although its impact can vary depending on broader demand, liquidity, and risk appetite.

The surge in ETF inflows underscores how quickly institutional sentiment can shape Bitcoin’s price direction. For asset managers and traders, the scale of the purchases suggests continued demand for regulated crypto products even after a volatile run-up in the market.

Still, analysts caution that Bitcoin remains highly sensitive to macroeconomic shifts, regulatory developments, and profit-taking after sharp gains. The latest inflows may strengthen the case for further upside, but the market is likely to remain volatile as investors weigh enthusiasm against risk.