Bitcoin Steadies Above $80,000 as ETF Inflows Hit Longest Streak Since April

Bitcoin (BTC) has steadied above $79,000 as it continues to digest last week's explosive advance. The cryptocurrency added more than 1% since midnight UTC and is on track to break out of a six-week trading range.

The underlying bid for Bitcoin remains strong, with spot ETFs posting eight consecutive days of net inflows, pulling in a combined $2.8 billion, the longest streak since April, according to SoSoValue data.

Altcoins are mixed, with Bittensor (TAO) leading gains during the European morning, adding around 5.3% since midnight, recovering sharply from August lows near $185.

Institutional options hedging also shows that institutions have bought downside protection through puts in longer-dated expiries even as front-end traders chase upside, according to crypto options exchange Deribit.