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The Bitcoin and Ethereum are backed by steady institutional ETF demand and lower leverage, according to Ryan Lee, Chief Analyst at Bitget Research; $BTC is expected to break $80,000 to $85,000 short term while ETH targets $2,800 to $3,000.
Bitget Research Analyst Ryan Lee says Bitcoin and Ethereum are still in a “positive short-term trend” with ETF demand, lower leverage (and better spot market participation) keeping both assets on ‘an aggressive footing’ of the same asset as well as an attractive long term strategy supported by steady institutional allocations. crypto as . US spot Bitcoin ETFs logged eight days of net inflows totaling $2, according to news reports. A total of 1 billion through April 23, the longest streak since October 2025, with BlackRock’s IBIT capturing about 75% of all capital entering into the category.
Bitget Research Sees $BTC Breaking $80K to $85K With Sustained Inflows
The move is not based on aggressive speculative positioning, which gives the rally a firmer base than earlier cycles that were driven largely by retail momentum,’ Lee said. During the short-term, Lee expects Bitcoin to rise above $80,000 to $85,000 with sustained inflows; Ethereum is expected to follow with gains toward $2,800 to $3,000 driven by ecosystem upgrades and broad adoption of Ethereum. As crypto, as . Several analysts have said Bitcoin and Ethereum are outperformed gold, broad equity indices this year as news documented, institutional spot ETF inflows and corporate balance-sheet buying (along with the fact that higher oil prices would generally favor bullion) has been reinforcing Bitcoin’s role as a digital reserve. Lee’s analysis that the rally has a stronger institutional base than previous retail-driven cycles matches with data The eight-day inflow streak was about 19,000 $BTC against around 2,100 $C produced by miners during this period, meaning that institutional demand consumed about nine times new supply.
Gold and Oil Are Reshaping the Macro Environment for Digital Assets
But if you have gold with high levels, Lee said, “the demand for defensive assets is still in the hands of this market as markets price geopolitical uncertainty, sticky inflation expectations and slower policy easing across major economies,” adding that “assuming it has been done to maintain its position at such elevated levels” (see below). He referred to this as “a sign that capital is being distributed across several stores of value rather than concentrated in one hedge.” As crypto, as . In 2026, Bitcoin ETF flows have been adapted to the same dynamic as news tracked by news-followers; oil rose toward $100 per barrel earlier in the year and risk-off conditions that led to more than $296 million out of spot BitcoinETFs within one week. However, Lee acknowledged that oil exposure increases another layer of macro pressure because higher energy costs can delay rate-cut expectations and tighten liquidity conditions across markets.
What Institutional Absorption Means for Crypto’s Position in Portfolios
In addition, for digital assets, Lee said that “for the upside is related to whether institutional inflows continue absorbing macro volatility rather than reacting to it” (additional infusions are still associated with this phenomenon), and not necessarily by reaction of institutions. He added that “if there is such a thing as crypto, it’s still part of the larger portfolio building process. As crypto, as . Lee has previously argued that ETF flows are not the only reason behind Bitcoin’s performance, and that technical and macroeconomic catalysts combine with institutional positioning to drive price action across cycles. The current environment, where institutional inflows are absorbing supply at nine times the mining rate (the type of structural demand base Lee’s framework describes as more durable than speculative retail momentum), is precisely what this context represents.
Thanks for reading Bitget Research: Institutional Demand and Lower Leverage Support BTC and ETH Short-Term Outlook
