Bitcoin Blasts Off to Near $78K on ETF Inflows and Liquidity Hopes

Bitcoin surged nearly 23% in one week to trade near $78,000 as liquidity hopes and ETF inflows boost crypto markets. This comes after a period of heightened volatility and macro uncertainty.

Nischal Shetty, Founder of WazirX, said that the strongest daily inflow approached $710 million, indicating institutional participation and improving market confidence. Additionally, he noted that the cryptocurrency moved from a bearish technical setup into a bullish daily structure as buyers cleared several resistance levels.

The global crypto market capitalization went up to $2.53 trillion in one week, according to Coingecko. This rise in market value was also attributed to Treasury buybacks and a weaker US dollar, which supported risk appetite.