Bitcoin Surges Above $65,000 as Institutional Demand Boosts Crypto Markets
Bitcoin (BTC) is trading above $65,000 on Monday after recovering more than 2% last week. The bulls are finding support around the 200-week Simple Moving Average (SMA), a key indicator for investors. Strong inflows of capital into Bitcoin spot Exchange Traded Funds (ETFs) suggest renewed institutional demand.
The stalled Bitcoin Improvement Proposal (BIP) 110 soft fork and ongoing Middle East uncertainty could impact Bitcoin's outlook, however. Worldcoin (WLD) is up 12% so far on Monday, with retail demand remaining firm despite a slight increase in Open Interest. Eightco Holdings (ORBS) holds 302 million WLD tokens worth roughly $96 million, indicating steady institutional interest.
The technical outlook for WLD indicates a mild bullish bias as selling pressure wanes. Ethereum (ETH) is holding near-term support around $1,900 and Ripple (XRP) is hovering above the critical $1.00 demand zone. The broad recovery comes amid capital inflows through US-listed Exchange-Traded Funds (ETFs).