Bitcoin Soars Past $79K as Institutional Flows and Regulatory Optimism Fuel Crypto Rally
Bitcoin surged nearly 9% to cross $79,000 on Friday, propelled by institutional flows and regulatory optimism.
The cryptocurrency reached an intraday high of over $75,700, liquidating more than $460 million worth of shorts and sparking a shift in market momentum after weeks of consolidation.
Riya Sehgal, Research Analyst at Delta Exchange, noted that the rally has evolved beyond its initial short squeeze, driven by institutional flows, regulatory optimism, and improving liquidity expectations.
According to CoinMarketCap, the global crypto market capitalization increased 6.58% to $2.53 trillion, while Bitcoin marked its highest intraday price in months.