Bitcoin Soars Past $85,000 Amid Macro Boost and Institutional Demand

Bitcoin surged past $85,000 in an intraday session on September 21, marking its first time since January. The rally is attributed to improving macro conditions, increased institutional demand, and a technical breakout.

The spot Bitcoin ETFs in the US recorded net inflows of around $435 million on Friday, their strongest daily inflow since early September. This influx of funds added fuel to the surge, with Bitcoin reaching an all-time high above $85,000.

According to Rajagopal Menon, Vice President at WazirX, 'Bitcoin touching $85,000 reflects a combination of improving macro sentiment, renewed institutional demand and a significant reset in leveraged positioning.'