Bitcoin surges 23% in 1 week to trade nearly $78K as liquidity hopes, ETF inflows boost crypto markets

In the past week, Ethereum was up 29.7%. Among the major altcoins, BNB, XRP, Solana, Tron, Hyperliquid, Dogecoin, and Cardano rallied upto 56.3%. The global crypto market capitalisation went up $2.2 trillion to $2.53 trillion in one week, according to Coingecko.

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“Bitcoin moved from a bearish technical setup into a bullish daily structure as buyers cleared the $64,000, $70,000 and $74,000 levels. Crypto ETFs recorded approximately $1.45 billion in net inflows across four consecutive sessions this week, reversing roughly $220 million in outflows during the preceding three sessions”

Strong Bitcoin ETF inflows have supported prices even after more than $4 billion in crypto shorts were liquidated. On-chain data also shows some distribution from long-term Bitcoin holders, so continued selling near higher levels will be worth watching, Sehgal further said.

On Bitcoin crossing $75,000 mark, SB Seker, Head of APAC, Binance said Bitcoin’s move back above the $75,000 mark is a notable sign of renewed participation after a period of heightened volatility and macro uncertainty.

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Market perspective

Prateek Gupta, Head of Business, Mudrex

Bitcoin has pushed to around $79,000, continuing to rally supported by Treasury buybacks and Trump's White House crypto summit. A weekly close near current levels, followed by a monthly close above $80,000, could confirm a sustained rally toward $85,000. Meanwhile, $70,000 remains the key support as break below it could trigger a pullback toward $65,000.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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