Bitcoin Hovers Above $85,000 as ETF Money Floods In
The Bitcoin price has held above $85,000 for three sessions, reaching as high as $87,386 on Tuesday, its highest since January 31. This marks a significant milestone in the cryptocurrency's recovery from its recent downturn.
The surge is attributed to ETF money flowing into Bitcoin, with over $2.3 billion invested in four sessions. The funds have been allocating a substantial amount of capital, with IBIT taking $381.4 million and ARKB $289.1 million on Monday alone.
While the price has risen 14% this week and 35% since August 19, it remains about 31% below its record high of $126,198 set in October 2025. The Treasury's decision to double long-end liquidity buybacks from $2 billion to at least $4 billion per operation on September 9 has also contributed to the rally.
However, analysts caution that the squeeze is spent and the bid must be paid by those who want to hold the price above $85,000. The Coinbase Premium Index remains negative, and US spot demand is not leading this move.