Bitcoin Surpasses $80,000 Amid Strong Labor Data and ETF Inflows
- Bitcoin closed the week above $80,000, approaching key resistance at $82,000.
- Spot bitcoin ETFs attracted $987 million in inflows, marking three consecutive weeks of positive flows.
- Ethereum ETF inflows decreased to $215 million from $816 million the previous week.
- The recovery among altcoins has been limited, with gains primarily in DePIN and AI-related tokens.
- Currently, bitcoin is trading about 50% below its all-time high reached approximately a year ago.
The performance of bitcoin has outpaced many traditional risk assets despite strong US labor market data increasing expectations for a Federal Reserve rate hike. The upcoming release of the US Consumer Price Index and Fed meeting are anticipated to influence future market movements.
As bitcoin holds above key support levels, its recent inflows into ETFs highlight ongoing investor interest amid shifting capital dynamics.(Source)
