U.S. spot Bitcoin ETFs recorded $1 billion in net inflows over two sessions, fueling a rally above $79,000 amid regulatory and macro tailwinds.
Bitcoin climbed above $79,000 Friday, driven by $1 billion in net inflows into U.S. spot Bitcoin ETFs over two days. The surge followed a combination of institutional demand, a weaker dollar, and reduced regulatory uncertainty in Washington.
ETFs saw $517 million in net inflows on August 19 and $606 million on August 20, while short liquidations accelerated the rally. Analysts cited a supportive macro backdrop, including the Treasury’s expanded buyback plan, as a key catalyst.
The break above $70,000 also triggered short covering, pulling in momentum buyers and reinforcing the upward move.