Bitcoin Soars on Haven Demand, Reserve-Currency Ambitions

Bitcoin has experienced a significant rebound since dipping below $60,000 in July, climbing roughly 40% to reach its current price of around $84,000.

This recovery comes despite negative news, including Congress's failure to advance the Clarity Act and the absence of a clearer regulatory framework for crypto markets.

While ETF inflows are often cited as an explanation for Bitcoin's surge, it is unclear whether these flows are lifting the price or if a rising price is instead drawing in investors. In fact, U.S. spot Bitcoin ETFs absorbed $2.39 billion in a single week, the strongest weekly haul since October 2025.

Three other narratives contribute to Bitcoin's climb: its reputation as 'digital gold', a bond-market feedback loop, and ambitions for it to become a reserve currency.