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Bitcoin rises toward $80,200 as spot ETF inflows climb
Bitcoin gained 11% over the week to Aug. 27, while spot Bitcoin ETF inflows totaled about $1.92 billion, a development cited as supportive of the rally.
Bitcoin rallied during the week ending Aug. 21 amid renewed White House push for passage of the Clarity Act, and the move carried into late August, with prices up 11% for the seven days ending midday Thursday, Aug. 27, hovering above $80,200, according to ETF Trends.
ETF Trends also points to signs of renewed spot market activity, citing that the prior week brought the largest inflows in 10 months to spot Bitcoin ETFs, a shift that the outlet says could signal renewed institutional interest.
For traders looking at leveraged exposure, ETF Trends highlights the Direxion Daily Bitcoin Bull 2X ETF (BTCU), launched in May, noting it is designed to deliver 200% of the daily returns of a spot Bitcoin ETF, while stressing it should be treated as a short-term trading vehicle due to leverage risks.
The outlet cites Bitfire Research, saying the price action shows characteristics of an early bull market, including a sharp reversal and rapid recovery, but also notes confirmation has not yet arrived, with part of the rally attributed to short covering and the “key question” focused on whether spot demand can take over.
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