Bitcoin Demand Turns Positive After Three Months as US Spot ETFs See Over $500M Inflows Led by BlackRock IBIT

Bitcoin on-chain demand returned to positive territory for the first time in three months, with CryptoQuant data showing the 30-day "Apparent Demand" metric turning green after a prolonged period of distribution, while Coinbase's Bitcoin Premium Index flipped above zero for the first time since Jan. 15. US spot Bitcoin ETFs registered over $500 million in net inflows across the last two trading sessions, including $297 million into BlackRock's iShares Bitcoin Trust (IBIT) and $102 million into Grayscale's GBTC on Feb. 25, Farside Investors data show. IBIT added 4,309 BTC worth about $296.75 million, with total ETF trading volume reaching $3.1 billion. Bitcoin has jumped around 10% over the past two days, adding roughly $120 billion to its market capitalization as the broader crypto market gained over $200 billion, market analyst Bull Theory noted, while MicroStrategy's Michael Saylor told attendees at Strategy World 2026 in Las Vegas that he expects Bitcoin to outperform the S&P 500 over the next four to eight years.