Bitcoin trades at $81,017 supported by ETF inflows and Strategy buying
Bitcoin climbed nearly 4% to trade near $81,000 as spot ETF flows and institutional buying provided support. The asset has now completed three consecutive weeks of gains.
Bitcoin traded at $81,017 on Friday after rising nearly 4%, supported by inflows into U.S. spot exchange-traded funds and buying from Strategy as a market participant. Ethereum rose 4.51% to reach $2,515, while major altcoins including BNB and Cardano gained up to 6.91%. Privacy coins led the rally with zcash up 16% and dash at 19%. Bitcoin is now up 3.93% over the past 24 hours and has entered its third straight week of gains, having avoided a loss in equity and bond markets during volatile periods this year. The digital asset hit a high of $82,272 overnight, representing its highest point since May 11 when it peaked at $82,499. This follows a break above the $70,000 threshold established in late August. Analysts noted that while the broader trend remains positive with prices above key moving averages, momentum indicators suggest overbought conditions. The rebound aligns with renewed momentum in the debasement trade following U.S. Treasury actions involving longer-dated debt. Global crypto market capitalization increased 3.41% to $2.71 trillion.
