Bitcoin Demand Showing 'Signs of Improvement' Despite 'Challenging' Backdrop, Says Binance Co-CEO as Spot ETF Inflows Surge

Binance Co-CEO Richard Teng noted on Tuesday that institutional demand for Bitcoin was improving despite a “challenging” macroeconomic scenario.Bitcoin in Bull Market?Spot Bitcoin exchange-traded funds recorded over $3 billion in from Sept. 17 through Sept. 29, marking nine consecutive positive U.S. trading sessions.In fact, the week ending Sept. 25 since last October, attracting $2.4 billion in net inflows. Year-to-date inflows are now up by over $1 billion.BlackRock’s iShares Bitcoin Trust , the world’s largest cryptocurrency-focused fund, alone pulled in more than $1 billion in inflows last week, according to data from SoSo Value.Moreover, Bitcoin is up 43% in the third quarter. It’s on track for its best quarterly performance since late 2024 and its .BREAKING: Bitcoin is up +43.1% so far in Q3 2026, on track for its best quarterly performance since Q4 2024.This would also mark their 3rd-best quarterly gain since US spot Bitcoin ETFs officially began trading in January 2024.Since August 19th alone, Bitcoin prices have… ‘Signs of Improvement’Binance Co-CEO Richard Teng said investor demand is “showing signs of improvement” despite a “challenging” macroeconomic backdrop from elevated U.S. Treasury yields.The returns on on Tuesday, its highest level since 2007, while the 30-year yield rose above 5.6%, reaching its highest level since June 2002.The macro backdrop remains challenging, with high U.S. yields continuing to pressure risk assets. However, investor demand is showing signs of improvement.Spot BTC ETFs attracted US$999M in net inflows, while technical indicators are also beginning to show early signs of… Read Also: How Long Before BTC Reclaims $90,000?Bitcoin began its rally in late August, reclaiming the $80,000 level for the first time since mid-May. This rebound followed the Treasury doubling its debt buybacks to shore up the bond market, sending yields and the dollar lower.The ascent accelerated, and Bitcoin topped $87,000 earlier this month, its highest since late January.Veteran trader Peter Brandt said Bitcoin could trade between $200,000 and $250,000 by early 2029, potentially rising to $600,000 by late 2029. Financial advisor Ric Edelman reiterated that the asset will hit $500,000 by 2030.Price Action: As of this writing, BTC is up 2.67% in the last 24 hours to $82,989.25, according to Benzinga Pro. Read Also: Tom Lee Asks Investors, 'Do You Have Enough Crypto,' After Changpeng Zhao Hints Bull Market Could Come 'Soon' Photo: Hi my name is Jacco on Shutterstock.com