Home›Crypto›Bitcoin›Bitcoin holds above $80,000 as ETF inflows support ral…

Bitcoin holds above $80,000 as ETF inflows support rally

Bitcoin briefly touched $81,000 after a U.S. Treasury buyback announcement, and the rally coincided with an “Extreme Greed” reading of 83 on the Crypto Fear & Greed Index.

Reported · Written up by our desk · Bitcoin

Bitcoin is holding above the $80,000 level after briefly testing $81,000, extending last week’s rally, according to The Block. Analysts said the move may be too early to label a full bull market, citing sticky inflation and geopolitical uncertainty.

The recent upward push was triggered by a U.S. Treasury buyback announcement, The Block reported. The same period saw the Crypto Fear & Greed Index rise to an “Extreme Greed” reading of 83, while some market watchers framed the move as a catch-up trade rather than the start of a new bull cycle.

Min Jung, associate researcher at Presto Research, said the price action above $80,000 and ETF inflows look like catch-up behavior because bitcoin has lagged other risk assets. Jeff Mei, COO of BTSE, said he would presume a bull market only after sustaining $100,000 for a month and when the Fed signals rate cuts, which he described as still uncertain.

Beyond bitcoin, the rally has lifted some major altcoins, The Block reported. Over the same period, Ether is up 32%, XRP is up 53%, and Solana is up 34%.

Latest closeBitcoin $80,690.63 ▲2.2%|Solana $101.47 ▲3.0%|XRP $1.509 ▲2.0%

More like this

Sources