Crypto
Bitcoin Consolidates Near $80,000, Buying Momentum Remains Strong
Bitcoin traded near $80,000 on Friday after reaching an intraday high of $81,280, showing sustained buying momentum.
The cryptocurrency was down 1.1% in the past 24 hours but remains above its 4-hour moving average and defending the $79,000 area, according to Delta Exchange's research analyst Riya Sehgal.
BTC spot ETFs attracted more than $232 million on August 26, extending a strong run of inflows, while Ethereum ETFs drew nearly $192 million, said Sehgal.
Nvidia's latest quarterly results supported a risk-on sentiment and institutional demand continued to sustain the Bitcoin rally, according to Prateek Gupta, Head of Business at Mudrex.