Bitcoin surges above $87,000 amid strong ETF inflows

Bitcoin has surged above $87,000, reaching its highest level since January. This rally is supported by significant institutional interest, evidenced by a $714 million net inflow into U.S. spot Bitcoin ETFs, led by BlackRock’s IBIT fund. The price movement above the $82,300 breakout level has brought the $100,000 psychological milestone back into focus.

The broader cryptocurrency market is also experiencing gains. Ethereum rose by over 5% to approximately $2,770, while Solana and XRP saw increases of 7.50% and 7.15%, respectively. Analysts suggest the growth may be driven by a combination of institutional buying, corporate acquisitions, and short covering, coinciding with a rise in technology stocks that indicates increased investor risk appetite.