Bitcoin exceeds $85,000 amid inflows
Bitcoin surged by more than 5% to reach its highest level in eight months, surpassing $85,000, supported by improved investor risk appetite and strong inflows into related exchange-traded funds. The decline in oil prices and market optimism ahead of the upcoming summit between U.S. President Trump and Chinese President Xi Jinping fueled the upward trend, with the cryptocurrency hitting a high of $85,222. Expectations remain high that the market capitalization of cryptocurrencies will rise to around $2.8 trillion. Investors are re-adjusting their positions to capitalize on the rally, although Bitcoin is still below its 2026 all-time high of over $97,000. The market continues to await signals from the Trump-Xi summit and statements from Federal Reserve officials and their potential impact on the market.
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