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Bitcoin eyes $80K breakout as ETF flows strengthen, potential profit taking looms

From fxstreet.com

Bitcoin's (ETH) recovery above $76,000 has strengthened expectations that the asset could reclaim $80,000 in the near term, as analysts point to rising institutional demand and improving market structure as support for further upside. The recent advance has been driven in large part by strong inflows into US spot Bitcoin exchange-traded funds (ETFs) and continued accumulation by large corporate buyers. Bitcoin ETFs have recorded $1.12 billion in net inflows over five US trading days that ended April 21, signaling renewed institutional demand after months of sustained outflows. In the past month, Bitcoin funds have ... (full story)

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  • Category: Fundamental Analysis