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Bitcoin hits highest level since January at $85,000, as the market debates whether the ‘crypto winter’ is over
Institutional demand and forced short covering helped drive the rally, with U.S. spot Bitcoin ETFs drawing nearly $1 billion in a day, data showed.
- On Friday, U.S. spot Bitcoin ETFs recorded $433 million in net inflows, while Ethereum ETFs added $143.80 million, signaling renewed institutional demand for digital assets.
- Despite the U.S. Senate failing to advance the CLARITY Act on September 15, the Securities and Exchange Commission and Commodity Futures Trading Commission continued advancing crypto-related policies.
- Fidelity Investments' Wise Origin Bitcoin Fund led institutional inflows with $310 million, while forced buying of leveraged short positions contributed to over $250 million in liquidations.
- Bitwise Chief Investment Officer Matt Hougan described the market as "crypto spring," noting that momentum-driven capital is rotating back from artificial intelligence stocks.
- Bitcoin is approaching $85,638, the breakeven cost basis for U.S. spot Bitcoin ETF holders per Glassnode data, creating a critical psychological threshold traders are monitoring closely.
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Bitcoin's current movement isn't driven by just one factor. Institutional investor interest is resurgent, as is sentiment toward digital assets.
The price of Bitcoin has climbed to the highest level since the beginning of the year thanks to inflows in Bitcoin ETFs on Monday. On the Bitstamp trading platform, the oldest and best-known cryptocurrency was temporarily traded at US$85,248 (about EUR74,400), almost five percent more than the previous day and the highest level since the end of January.
·Vienna, Austria
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The Edge Markets
The Edge MarketsBitcoin retreats from eight-month high after dizzying 13% rally
The rapid move back above US$80,000 has traders betting the bear phase is over, with momentum bringing sidelined capital back in and lifting prices.
·Petaling Jaya, Malaysia
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Total News Sources224
Leaning Left15Leaning Right21Center22Last UpdatedBias Distribution38% Center
Bias Distribution
- 38% of the sources are Center
38% Center
L 26%
C 38%
R 36%
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