Bitcoin Surges to New High Near $86,000 on Record ETF Inflows
Bitcoin traded near $86,000 after US spot Bitcoin ETFs recorded nearly $999 million in single-day inflows, their strongest in 11 months. This marked a significant boost to the cryptocurrency's price, with institutional demand and short liquidations supporting its rally.
According to Prateek Gupta, Head of Business at Mudrex, this move pushed BTC above its 365-day moving average for the first time since March 2023. Additionally, on-chain data showed unusually little profit-taking for a move this size.
The global crypto market capitalisation was down 0.08% to $2.92 trillion, according to data on Coinmarketcap. The crypto fear and greed index stood at 78, indicating the market sentiments were somewhere between 'Greed' and 'Extreme Greed', said CoinDCX Research Team.
Analysts believe that a sustained move above $89,000 could open doors toward the $100,000 mark. Strong institutional demand and short liquidations accelerated the move, with BTC surging to $87.4K, its highest level since January 2026.