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Bitcoin Surges Past $85,000 as ETF Inflows and Institutional Buying Boost Market

Guavy AI Editorial Team
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Bitcoin surged nearly 5% over the past 24 hours to cross $85,000 on Tuesday as strong spot ETF inflows and institutional buying buoyed the cryptocurrency market. The price of Bitcoin rose to $85,310 at 12:30 pm.

The global crypto market capitalization increased by 3.5% to $2.9 trillion on Tuesday, according to CoinMarketCap data. Bitcoin led the gains, nearing $87,000 and sparking FOMO in the cryptocurrency market.

Avinash Shekhar, Co-founder and CEO of Pi42, stated that Bitcoin's decisive move above the $80,000 resistance has strengthened its near-term outlook. However, profit-booking could trigger intermittent volatility.

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