Bitcoin Surges Past $79,000 as Institutional Confidence Grows

Bitcoin surged past $79,000 after breaking a six-week range, driven by strong spot demand and $1.92 billion inflows into U.S. spot Bitcoin ETFs over five days.

This rally, supported by short-term holders reclaiming cost bases near $68,500 and a $3 billion short squeeze, suggests growing institutional confidence.

Analysts see signs the bear market may be ending, but key resistance levels around $80,000 to $83,000 must hold for a confirmed trend reversal.

Continued ETF and spot demand will be crucial to sustain the rally.