Economy
Bitcoin Surges Past $80,000 Amid Strong Institutional ETF Inflows
Livemint31m
THE BRIEF
1
Bitcoin prices traded above $80,000, logging a 10% to 14% surge over seven days despite pulling back below $84,000 following a stronger-than-expected US business activity report.
2
US spot Bitcoin ETFs drew approximately $1.71 billion in inflows over September 21 and 22, while over $1 billion in derivatives positions were liquidated.
3
Analysts note $83,500 to $84,000 serves as immediate support for Bitcoin, with psychological milestones remaining tied to broader macroeconomic indicators.