Bitcoin Surges Past $80,000 as ETF Inflows Reach Record High

Bitcoin (BTC) has broken through the $80,000 mark for the first time since mid-May, driven by a renewed risk-on sentiment and improved liquidity conditions. The Crypto King's price has been bolstered by the US Treasury's long-term bond buybacks and the Securities and Exchange Commission's (SEC) efforts to establish clearer regulatory guidelines for the industry.

Meanwhile, Ethereum (ETH) is trading near $2,500, with bulls eyeing a potential breakout past $2,600. Ripple (XRP), on the other hand, has held onto last week's gains and is currently trading around $1.50.

The surge in prices can be attributed to steady inflows of US-listed Bitcoin Exchange-Traded Funds (ETFs), which have logged six straight days of inflows totaling $2.26 billion. The cumulative inflows now stand at $54 billion, with net assets under management at $99 billion, according to SoSoValue.

The crypto Fear & Greed Index remains elevated at 73 in the Greed territory, indicating that investors are inclined to continue increasing risk exposure.