Bitcoin Sprints Towards $80,000 as ETF Demand Pauses and Native Market Structure Takes Over

Bitcoin has reached $79,500, just shy of $80,000, after a week that saw its price surge by around 11%.

The rally was fueled by a combination of factors, including a surprise Treasury intervention, spot ETF inflows of about $1.6 billion, and billions of dollars in forced short liquidations.

However, with the ETF trading stops until Monday and Treasury markets closed over the weekend, Bitcoin's native market structure will be put to the test.

Analysts at Bitfinex noted that the rally was built on three legs: steady accumulation through a volatile stretch, seller exhaustion, and a macro turn doing most of the work.