Spot bitcoin exchange-traded funds recorded their strongest daily inflows in three weeks, bringing in about $1.2 billion as the cryptocurrency pushed above $110,000. The move points to renewed demand from large investors after a period of slower activity in the market.

The rally came alongside a fresh rise in mining difficulty, which reached a new record after the latest halving-cycle adjustment. That increase typically reflects stronger competition among miners and can tighten supply conditions over time.

Institutional buying has been a key support for bitcoin’s latest advance, with ETF vehicles making it easier for funds and asset managers to gain exposure without holding the asset directly. Market watchers say the combination of strong inflows and constrained supply expectations has helped fuel the latest price surge.

Even so, crypto markets remain highly volatile, and short-term gains can reverse quickly if investor demand cools or broader financial conditions change. Traders are now watching whether the inflow momentum can hold as bitcoin tests higher levels.