Driven by a strong rally, the price of Bitcoin (BTC) briefly surpassed $79,000, returning to the market spotlight. This upward momentum was fueled by improved expectations regarding U.S. liquidity, renewed inflows into spot ETFs, and the forced liquidation of short positions worth billions of dollars.
Institutional demand is also rebounding. On August 20, the U.S. Bitcoin spot ETF recorded a net inflow of approximately $606 million; meanwhile, Standard Chartered analyst Geoff Kendrick pointed out that the bank’s previously set year-end price target of $100,000 may be too conservative, and stated that BTC may eventually challenge a new all-time high close to $126,000. Bitcoin’s upward momentum has created new opportunities.
Dispatches From The Front 