Institutional Inflows Surge
Big investors are doubling down on Bitcoin. Last week, investment funds tied to the crypto saw a whopping $942 million pour in. This bullish sentiment could trigger a Bitcoin rally to $80,000.
Lower Inflation Fuels Optimism
The Consumer Price Index (CPI) report showed inflation slowing down, giving investors hope that the Federal Reserve might ease interest rates. Lower rates make risky investments like Bitcoin more appealing.
US Leads the Charge
The US accounted for most of the inflows, with $1 billion going into US Spot Bitcoin ETFs. Grayscale’s Bitcoin Trust also saw a rare inflow of $18 million.
Other Cryptocurrencies Benefit
Altcoins like Solana, Chainlink, and Cardano also received inflows, suggesting a broader bullish sentiment in the crypto market.
Bitcoin’s Bull Run May Resume
The surge in inflows into Spot Bitcoin ETFs indicates that Bitcoin’s bull run might be back on. These funds helped push Bitcoin to its all-time high of $73,750 in March.
Factors Supporting a Bullish Continuation
- Improving economic data in the US
- Bitcoin leaving the “danger zone” in technical analysis
