Bitcoin jumps above $80,000 on $1.92 billion ETF inflows
Bitcoin surges above $80,000 to the highest level since May, with gains since mid-August around 28%, $1.92 billion of spot ETF inflows and about $7.2 billion in leveraged short liquidations reported.
Bitcoin surged above $80,000 on Tuesday, reaching its highest level since May and bringing gains since mid-August to about 28%.
The rally was supported by renewed optimism in the crypto market, fueled by a series of positive signals, including expectations for a “debasement trade” after the US Treasury announced plans to increase purchases of longer-dated government bonds, weighing on long-term yields and the dollar.
US spot Bitcoin ETFs also recorded their strongest weekly inflows in 10 months, attracting $1.92 billion, while renewed optimism over the Trump administration’s support for cryptocurrency further boosted sentiment.
The rally triggered a major short squeeze, with about $7.2 billion in leveraged bearish crypto positions liquidated last week.
Despite the rebound, Bitcoin remains well below its record high of around $126,000 reached last October, while analysts caution that the surge may be driven largely by short covering rather than sustained demand.