Bitcoin Blasts Above $80K as Institutional Inflows Soar
Bitcoin has broken above $80,000, reaching $86,000 before easing to around $83,800. This surge is attributed to the largest daily ETP inflow since November 2024 and nearly $1 billion moving into spot BTC ETFs.
The move also coincides with ongoing regulatory progress in the crypto space. The SEC's Innovation Exemption and CFTC rulemaking post-Clarity Act indicate a supportive policy backdrop for cryptocurrencies. Stephen Coltman, macro head at 21shares, says this shows that 'crypto regulation continues to progress despite a setback in the Senate.'
K33 research finds that Bitcoin's recent drawdown is significantly milder than previous cycles. Vetle Lunde, K33 analyst, notes that derivatives positioning and sentiment do not point to meaningful near-term downside.