Lingling Jiang on How ETFs & Macroeconomy Influence BTC

Lingling Jiang, Partner of DWF Labs, shared with Cointelegraph about Bitcoin’s recent price movements, and how fluctuations are indicative of more than just short-term sentiment. A convergence of macroeconomic and micro-level factors affect movements of Bitcoin’s price.

Growing Confidence in Macroeconomic Conditions

President Donald Trump, whose administration has signalled support for digital assets, has shown support in including domestic Bitcoin mining and also shown opposition to a central bank digital currency (CBDC).

Jiang pointed to the Federal Reserve’s increasingly accommodative stance, easing trade tensions, and a more stable inflation outlook as indicators that the broader environment is beginning to favour risk assets.

Institutional Signals

At the micro level, Jiang sees signs of renewed institutional interest. She highlights the resurgence of exchange-traded fund (ETF) inflows, the expansion of the stablecoin market, and bullish breakout patterns among altcoins as key indicators of fresh capital entering the ecosystem.

‘At the micro level, we can see a pattern: the resurgence of ETF inflows, the expanding stablecoin market, and breakout patterns across alternative cryptocurrencies collectively signal confidence and perhaps even renewed institutional participation. While market liquidity is strengthening, we notice that volatility remains subdued, and on-chain metrics reveal long-term investors accumulating rather than divesting,’ she explained.

Technical Resistance, But Foundations Look Solid

Jiang believes the market is forming a solid base for continued growth. ‘While Bitcoin seems to face potential resistance around the $90,000 level, which is a key technical milestone identified by analysts, the broader market structure supports a plausible continuation of uptrends,’ she said.

Jiang also points to strengthening liquidity, subdued volatility, and on-chain metrics showing accumulation by long-term holders — all signs that the rally is being built on solid ground rather than hype.

‘This isn’t just a reflex; it looks to be a technically and fundamentally supported bottoming pattern,’ she concluded. ‘The market’s not chasing hype; it’s building a new foundation.’

With both macro and micro conditions aligning, and institutional flows returning, Jiang suggests Bitcoin may be entering a phase of structural maturity — one that could potentially support a sustainable upward trajectory.