Bitcoin Nears $80k as ETF Inflows Exceed $300M
Bitcoin (BTC) is trading near $78,900 after a sharp rally from the mid-$60,000s. The cryptocurrency's price has held above its moving averages since the breakout began.
The move has drawn attention from technical traders and institutional watchers alike, who are tracking flow data closely as price nears the psychological $80,000 line.
According to Lookonchain, U.S. spot Bitcoin ETFs saw a net inflow of 4,284 BTC worth about $336 million on August 25, with total inflows over the past seven days reaching 26,499 BTC, equal to roughly $2.08 billion.
The steady inflow numbers suggest institutional buyers kept adding positions even as Bitcoin trades near its highest levels of the year. Open interest in Bitcoin derivatives has also grown, climbing toward $58 billion according to CoinGlass data.