Crypto
Bitcoin Breaks Through $80k, Targets $82,800 Resistance Amid Strong Institutional Inflows
Bitcoin's price has been showing resilience in the face of macroeconomic headwinds. The digital asset reclaimed the $80,000 level and is now testing $82,000, with a current price of around $81,700.
The recent price recovery was triggered by a massive short squeeze, which saw over-leveraged short sellers bear the brunt of the damage, accounting for $242.18 million of the $335.83 million in total market liquidations.
Despite these headwinds, institutional interest remains robust, with US spot Bitcoin ETFs recording a massive $433.03 million net inflow last Friday, securing a positive weekly net flow of $6.21 million.