Crypto
Bitcoin Surges Near $80K as Fresh ETF Demand Boosts Price
Bitcoin's price has been on a tear, reaching as high as USD 81,280 and settling near USD 80,000 by Friday evening. This sharp rebound in August has brought fresh demand for US spot Bitcoin ETFs, with nine consecutive trading sessions of net inflows totaling about USD 3.04 billion.
The next key area to watch is around USD 82,000, a level that could provide significant support if broken through. However, repeated rejection near USD 80,000-USD 81,000 may encourage profit-taking by weekend investors.
Altcoins such as Solana, Ethereum, and XRP are also gaining momentum, with SOL climbing over 6% in the past 24 hours to nearly USD 107. This suggests that capital is beginning to rotate beyond Bitcoin into higher-risk crypto assets.