Bitcoin Surges to $78k as Institutional Buying Floods Crypto Market
The cryptocurrency market has seen a significant surge in institutional buying, with Bitcoin (CRYPTO:BTC) reaching $78,142 and the iShares Bitcoin Trust ETF (NASDAQ:IBIT) closing at $44.67, up 1.75% on the session.
Zooming out, Bitcoin has rallied 24% over the past month, while IBIT is up 25.34% over the same period, marking its biggest one-month advance since it began trading.
According to BofA Global Research data, crypto funds attracted $3.2 billion in inflows last week, their largest weekly intake since October 2025, with IBIT alone pulling in $928 million.
The influx of dollars has put pressure on the market, forcing marginal buying and clearing at whatever price sellers demand. This is a physical delivery mechanism, unlike quantitative easing, which creates new reserves to buy Treasuries.