Bitcoin Hits Near $80K as ETF Inflows and US Treasury Moves Boost Price

Bitcoin's price surged about 24% last week to nearly $79,550, its highest since May 2023. The rally was driven by inflows of $1.9 billion into US spot Bitcoin ETFs and US Treasury buybacks aimed at improving bond market liquidity.

The surge also saw short-covering and hopes for clearer US crypto regulations, including progress on the CLARITY Act.

Analysts say Bitcoin could reach $80,000, $90,000 if Treasury buybacks expand and US policy advances, but rising bond yields and lack of new catalysts could cause a pullback toward $70,000.