Bitcoin Breaks $86K Barrier as Spot ETF Inflows Soar to Nearly $1B
Bitcoin's price has climbed above $86,000 for the first time since January, driven by a rally that lifted the broader cryptocurrency market to over $3 trillion. The increase in value comes as spot Bitcoin ETFs attracted nearly $1 billion in net inflows on Monday, led by IBIT, ARKB, and FBTC.
The influx of funds into these exchange-traded funds is a significant development, marking one of the strongest daily inflow periods in roughly a year. Meanwhile, several crypto-linked large-cap equities edged lower despite Bitcoin's price surge, with MSTR stock falling 1.7% and COIN shares declining by a similar margin.
The rally has been fueled in part by heavy short liquidations, with around $800 million in crypto short positions reportedly liquidated over the past 24 hours. This added fuel to Bitcoin's price increase, which now stands at more than 30% below its record high of $126,000 seen in October last year.