Bitcoin breaks $79,000, fueled by strong spot demand and $1.92B ETF inflows, hinting bear market may end.
Bitcoin surged past $79,000 after breaking a six-week range, driven by strong spot demand and $1.92 billion inflows into U.S. spot Bitcoin ETFs over five days. This rally, supported by short-term holders reclaiming cost bases near $68,500 and a $3 billion short squeeze, suggests growing institutional confidence. While analysts see signs the bear market may be ending, key resistance levels around $80,000 to $83,000 must hold for a confirmed trend reversal. Continued ETF and spot demand will be crucial to sustain the rally.
Bitcoin surged past $79,000 after breaking a six-week range, driven by strong spot demand and $1.92 billion inflows into U.S. spot Bitcoin ETFs over five days. This rally, supported by short-term holders reclaiming cost bases near $68,500 and a $3 billion short squeeze, suggests growing institutional confidence. While analysts see signs the bear market may be ending, key resistance levels around $80,000 to $83,000 must hold for a confirmed trend reversal. Continued ETF and spot demand will be crucial to sustain the rally.
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