Bitcoin Soars to $81,500 on Whale Accumulation and ETF Inflows

Bitcoin's price surged to $81,500 this week, marking a significant increase of 31% from its levels in early August. The rally comes as technical metrics show a mixed bag of signals, with both constructive medium-term outlooks and near-term pullback risks.

The influx of institutional investment into Bitcoin through exchange-traded funds (ETFs) has contributed to the price rise. According to data from The Financial Times' Crypto newsletter, ETF inflows reached nearly $3.3 billion in August alone.

Bitcoin whales, or wallets holding substantial amounts of BTC, have also been accumulating the cryptocurrency, with 39,154 BTC added over the past week, worth around $3 billion at current prices.