Crypto
Bitcoin Tops $85,000 Amid Favorable Market Conditions
Bitcoin's price has surged to an eight-month high of $85,248, surpassing its previous peak. This significant milestone marks a strong recovery for the cryptocurrency after a period of volatility. According to data from Glassnode, the average purchase price for U.S. spot Bitcoin ETF investors is around $85,638, with corporate holdings averaging $80,500.
The influx of investment into U.S. spot Bitcoin ETFs has also resumed, with net inflows totaling $435 million on September 18. This surge in interest is likely driven by the current market sentiment, which remains favorable for risk assets due to lower oil prices and stable U.S. Treasury yields.