Bitcoin News

Story: Bitcoin Soars to $85,000 as Fidelity Surges Past BlackRock in ETF Inflows

By Pankaj K

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Fidelity Overtakes BlackRock in Friday Inflows. Here's the number that caught everyone off guard. US spot Bitcoin ETFs pulled in $435 million on…

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Rate Hike Odds and Bond Yields in the Mix. Markets don't move in a vacuum, and Bitcoin's jump didn't happen in one either.

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Bitcoin cracked $85,000. Just like that, the biggest crypto rally of the year landed on a number nobody had seen since January, and traders scrambled to figure out whether it…

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The move came fast. Bitcoin closed Sunday at $81,120 — its highest weekly close since early May — and then kept climbing.

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Analyst Rekt Capital flagged a potential bearish divergence. The relative strength index is pushing toward 70 — what traders call "overbought" territory — and he warned that a…

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Here's the number that caught everyone off guard. US spot Bitcoin ETFs pulled in $435 million on Friday alone — the biggest single-day inflow since early September.

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Fidelity's Wise Origin Bitcoin Fund took in $310 million on that day, beating BlackRock's iShares Bitcoin Trust.

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Bitcoin is also trading above its 50-week exponential moving average, which sits at $77,769 per TradingView data. That's considered a key level for sustained upward movement.

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Markets don't move in a vacuum, and Bitcoin's jump didn't happen in one either. A few macro threads are tangled up in this.

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Related: Fidelity Sees 35% Chance Bitcoin Hits $95K if It Surpasses $82K Barrier

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The Federal Reserve is weighing another rate hike. The CME Group's FedWatch Tool put the probability of a 0.25% increase at the October meeting at 53%.

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Jim Iuorio of JI Financial Strategies said the bond-market moves could act as a liquidity tailwind for Bitcoin.

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Oil is part of this too. Prices spiked above $100 per barrel last week but fell back below $94 as diplomatic efforts between the US and Iran gained some traction.

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Thursday saw $159 million in net crypto ETF inflows, driven partly by regulatory momentum. The SEC and CFTC moved forward on crypto-related policies even as the CLARITY Act…

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More context: Bitcoin Surges Back Above $80K as Fed Rate Hike Fuels Market Volatility

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