Bitcoin nears $80K with fund support

Bitcoin's price has risen significantly, approaching the $80,000 mark supported by the return of investment flows into spot Bitcoin ETFs and improved investor appetite for high-risk assets, which has fueled the upward wave. Covering short positions and increased demand from institutions, which recorded net inflows of $1.92 billion over the past week, added further momentum to the gains. Meanwhile, the market continues to wonder whether the digital asset can sustain this momentum after a surge of over 20 percent within three days.

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