BTC USD Bulls Eye $82,800 as Bitcoin Market Continues to Defy Headwinds

The global cryptocurrency market is showing strong momentum, with the BTC USD pair hovering just below the $82,000 mark. The benchmark digital asset has consolidated around $81,700, representing a 1.7% daily gain and a 4.95% weekly increase.

Bitcoin's market capitalization has reached $1.64 trillion, anchoring a broader $2.8 trillion digital asset market that expanded by 2.11% today. This upward trajectory triggered substantial liquidations across the derivatives markets, heavily penalizing short sellers.

Institutional demand remains robust, with US spot Bitcoin ETFs recording a massive $433.03 million net inflow last Friday and securing a positive weekly net flow of $6.21 million despite experiencing some mid-week volatility.