Bitcoin nears $80,000 amid fund support

Bitcoin is approaching the $80,000 level for the first time in several months, supported by a revival in investment flows into spot ETFs and an improved investor appetite for high-risk assets. It rose by 3.1%, reaching approximately $79,739, with gains exceeding 20% over three days—its largest increase since 2023—partly driven by a short squeeze. The market also saw a strong return of institutional investors, as Bitcoin funds received net inflows of $1.92 billion last week, with expectations of continued momentum, provided that major Bitcoin holders, such as the company "Strategy," resume buying activity. The outlook remains cautious, with questions about the sustainability of this surge, especially in light of the declining market cap of other cryptocurrencies and growing expectations of interest rate hikes in global markets.

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