Bitcoin reclaimed the $80,000 level on Thursday as US-listed spot Bitcoin ETFs recorded their largest daily inflows since January. The move points to renewed investor interest in Bitcoin thro
Bitcoin reclaimed the $80,000 level on Thursday as US-listed spot Bitcoin ETFs recorded their largest daily inflows since January. The move points to renewed investor interest in Bitcoin through exchange-traded investment products. Spot Bitcoin ETFs recorded $730.9 million in net inflows, marking their strongest daily inflow since Jan. 14.
The surge in inflows came after spot Bitcoin ETFs recorded a smaller amount of net inflows the previous day. The increase coincided with Bitcoin’s recovery after trading in a range of roughly $76,000 to $81,000 throughout the week. The latest activity suggests demand through Bitcoin investment products is beginning to strengthen after a period of weaker flows.
BlackRock’s iShares Bitcoin Trust (IBIT) was the main contributor to the latest inflows, accounting for more than half of the total funds entering US spot Bitcoin ETFs. Several other Bitcoin ETFs also recorded inflows, although some funds saw outflows during the same session. This indicates that the increase in demand was spread across multiple investment products rather than coming from a single fund.
Despite the stronger ETF inflows, CryptoQuant remains cautious about Bitcoin’s latest recovery due to relatively limited spot demand. The analytics firm said the recent price increase has been driven largely by short covering, as traders close positions that were betting on lower prices. This suggests Bitcoin still needs fresh buyers to provide stronger support for the rally.
Profit-taking among Bitcoin holders is another factor that could weigh on the market. Selling pressure could limit further gains if new demand is not strong enough to absorb the available supply. As a result, the increase in ETF inflows does not necessarily confirm that Bitcoin has entered a sustained bullish trend.
CryptoQuant identified the $83,000 area as an important level for Bitcoin to break in order to strengthen its upward momentum. A sustained move above that level could provide a stronger signal that the bullish trend is gaining traction. However, failure to break through the area could increase the risk of another pullback.
For now, Bitcoin’s return above $80,000 alongside stronger ETF inflows provides a positive signal for the market. Whether the rally can continue will depend on whether fresh buying demand emerges to support Bitcoin at higher levels.
Instagram : @asetqu_official
Tiktok : @asetqu_official
Twitter : @AsetQu_Official
