Bitcoin Surges Past $85k as Institutional Demand Drives Price Higher
Bitcoin has surpassed $85,000 for the first time since January, trading near $85,400 after a 4% daily gain and an 11.1% weekly appreciation.
This upward move accelerated on Monday as Bitcoin cleared resistance at $82,000 before briefly climbing above $87,000.
The primary driver of this market structure shift is accelerating institutional demand, with US spot Bitcoin ETFs recording $999 million in net inflows, the highest single-day volume since last October, following a $433 million inflow session on Friday.
Certain analysts have set the next key resistance target at $90,000, contingent on steady spot buying volume. Market analyst Michaël van de Poppe also highlighted the shift in market structure, indicating that clearing current levels leaves a clear path toward $90,000 and above, marking an end to the previous cyclical downturn.