Bitcoin briefly hit the $79,000 level earlier this week but has since retraced and is now trading around $77,700. The leading cryptocurrency’s recovery above $76,000 has strengthened expectations that the asset could reclaim $80,000 in the near term. Analysts point to rising institutional demand and improving market structure as support for further upside. Strong ETF demand keeps BTC above $77,000 The cryptocurrency market has been trading sideways over the past few days, with Bitcoin trading below the $78,000 level on Friday. Its recent rally has been driven in large part by strong inflows into US spot Bitcoin exchange-traded funds (ETFs) and continued accumulation by large corporate buyers. Data obtained from CoinGlass shows that Bitcoin ETFs recorded $1.
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