Bitcoin Surges Near $86,000 Amid Heavy ETF Inflows
The crypto market is experiencing a significant surge as Bitcoin hovers around $86,000. This uptrend has been fueled by substantial investments in U.S. spot Bitcoin ETFs, with nearly $1 billion in inflows contributing to buying pressure.
Short liquidations worth approximately $920 million have also played a part in the rally. Furthermore, crypto perpetual futures open interest has reached around $160 billion, indicating increased market activity.
The combined effect of these factors has pushed the total crypto market value above $3 trillion for the first time since January before it fell back to about $2.95 trillion.