Bitcoin Breakout: BTC Surges Past $84,000 Amid ETF Inflows
Bitcoin has broken through to new heights, surpassing $84,000 after a sharp vertical move that started around 11:30 UTC. This marks a significant recovery leg for BTC, which had been trading in the mid-$60,000s over the summer. The price of Bitcoin peaked above $121,000 earlier in 2026 before grinding lower.
The Fed's decision to raise rates by 25 basis points on Friday was seen as less hawkish than markets feared, sending risk assets higher. This led to a sharp increase in Bitcoin's price, with over $445 million in crypto shorts being wiped out, including more than $230 million in Bitcoin positions alone.
The influx of funds from US spot Bitcoin ETFs, which pulled in $593 million across Thursday and Friday, further contributed to the rally. This has been seen as a sign of genuine demand rather than overheated leverage, with funding rates remaining low.