Bitcoin exceeds $87,000 amid spot ETF inflows and oil slide
Business
Bitcoin just crossed $87,000 for the first time since January, hitting an eight-month high.
The jump comes as big investors pour money into Bitcoin and spot ETFs, with falling oil prices and a sudden rush to cover short bets adding extra fuel to the rally.
Funds bought over $180 million in Bitcoin
Major players like Strategy and Strive snapped up over $180 million worth of Bitcoin last week, helping push prices higher.
More than $1 billion in crypto positions were liquidated in just 24 hours.
Now, analysts are watching to see if Bitcoin can hold steady above $87,000, with eyes on a possible next stop between $92,000 and $93,000 if demand keeps up.