Bitcoin crossed above $85,000 on Monday, reaching its highest level in 33 weeks with a weekly close at $81,120 on Sunday, its highest since early May. Short liquidations in crypto exceeded $600 million over 24 hours, per CoinGlass data. US spot Bitcoin ETFs recorded net inflows of $435 million on Friday, with $310 million going into Fidelity’s Wise Origin Bitcoin Fund, their largest daily tally since early September. The cost basis for US spot Bitcoin ETFs currently sits at $85,638, according to Glassnode.
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