Bitcoin Surges Above $80K Amid Renewed ETF Demand

Global markets were influenced by developments in artificial intelligence, cryptocurrencies, and commodities on Thursday. OpenAI and Anthropic, along with over 100 technology and financial services organizations, urged governments and businesses to strengthen defenses against AI-enabled cyberattacks.

In an open letter, the companies called for greater preparation against the growing threat of AI-enabled cyberattacks, citing recent incidents involving advanced AI models. They emphasized the need for immediate leadership priority on cyber defense, addressing existing vulnerabilities in software, and providing access to technology and financial support for organizations responsible for defending critical infrastructure.

Bitcoin rose by as much as 2% to around $80,122, reclaiming the $80,000 level it last held in May. The cryptocurrency's rebound was driven by stronger risk appetite and renewed ETF demand, with US Bitcoin ETFs attracting over $2.6 billion over the past eight trading sessions.

Oil prices increased as hopes for renewed US-Iran negotiations faded, and flows through the Strait of Hormuz remained restricted. Brent crude rose 2.6% to $90.14 a barrel, while West Texas Intermediate gained 1.9% to $83.81.