Bitcoin approaches $77,500 as strong ETF inflows revive investor demand

09:50

By: Azzat Manal

Bitcoin approaches $77,500 as strong ETF inflows revive investor demand

Bitcoin moved closer to the $77,500 mark on Monday as renewed investor interest and strong institutional inflows into exchange-traded funds supported the cryptocurrency market. The recovery comes after a particularly strong week for digital assets, while investors continue to monitor geopolitical developments and their potential impact on global risk appetite.

Bitcoin gained around 23% over the previous week, marking a significant improvement in market sentiment. The rally coincided with a sharp increase in investment flows into U.S.-listed spot Bitcoin exchange-traded funds, highlighting renewed institutional demand for the leading cryptocurrency.

According to data compiled by Bloomberg, the 13 U.S. Bitcoin ETFs recorded combined net inflows of approximately $1.92 billion over the past week. This was reportedly their strongest weekly performance in terms of inflows since early October of the previous year.

The renewed appetite for Bitcoin comes as financial markets remain sensitive to geopolitical developments. Investors are closely watching expected U.S. announcements concerning additional economic measures against Iran, which could influence broader risk sentiment and the flow of capital into alternative assets.

During Monday's trading session, Bitcoin rose 0.14%, or $108.75, to around $77,437. Ethereum also advanced 0.33%, gaining $8.08 to reach approximately $2,453.58.

Other major cryptocurrencies posted mixed performances. XRP fell 1.26%, or $0.0190, to about $1.4821, illustrating the uneven performance across the digital-asset market.

The strength of recent ETF inflows suggests that institutional investors are once again showing confidence in Bitcoin. However, the cryptocurrency's next move is likely to depend on several broader factors, including global monetary policy, liquidity conditions and geopolitical tensions.

For the crypto market, the latest rally represents a notable improvement in demand, but investors remain cautious as economic and geopolitical uncertainty continues to shape financial markets.