Bitcoin Rises Above $85,000 as ETF Inflows Fuel Eight-Month High
Bitcoin rose above $85,000 on September 21, reaching its highest level in eight months after gaining about 5% in afternoon trading. The cryptocurrency has climbed more than 30% since August 19 and has remained above the $80,000 mark. Analysts linked the rally to renewed inflows into United States spot Bitcoin exchange-traded funds, improving regulatory sentiment and investors closing bearish positions. They said the inflows were strong enough to absorb coins being sold by long-term holders. Crypto-related stocks also gained in premarket trading. Investors are additionally watching planned talks between the US and Chinese presidents, as progress on trade tensions could affect appetite for risk-sensitive assets such as cryptocurrencies.
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