Bitcoin Breaks $67K, Hits $79,500 Amid Strong Institutional Demand

Bitcoin maintained its strong bullish momentum this week, breaking through the $67,000 resistance level and reaching a high of around $79,500. This significant rally was supported by strong institutional/ETF inflows and improving macro sentiment.

Last week, Bitcoin witnessed approximately $2 billion in net ETF inflows and around $2.7 billion in short liquidations above the $70,000 level, contributing to its strong price increase and encouraging other crypto assets to follow suit.

However, after five consecutive gaining sessions, Bitcoin is now showing signs of resistance and profit booking near the 80,000-82,000 zone, with some red candles appearing on the charts. This indicates a short-term consolidation at higher levels before the next directional move.