Bitcoin jumps to over US$84,800 after ETF flows turn positive

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Bitcoin is well off its 2026 high of over US$97,000 in mid-January, and even further from its October record. Photo by SEBASTIEN BOZON/AFP via Getty ImagesArticle contentBitcoin surged past US$85,000 to its highest since late-January, extending a sharp rebound as falling oil prices and a broader return of risk appetite helped cryptocurrencies move past setbacks on United States crypto legislation and monetary In or Create an Accountor View more offersArticle contentThe original cryptocurrency climbed as much as 6.5 per cent to US$86,331 in New York trading, almost US$10,000 above the lows touched last week after the Clarity Act stalled and the Federal Reserve raised interest rates. Even after that rebound, bitcoin remains roughly a third below its record last contentWe apologize, but this video has failed to refreshing your browser, ortap here to see other videos from our apologize, but this video has failed to refreshing your browser, ortap here to see other videos from our contentArticle contentThe rally comes alongside advances in stocks and bonds, as falling oil prices and optimism ahead of a summit between U.S. President Donald Trump and China’s Xi Jinping are buoying markets more broadly. Many smaller digital assets gained more, with the dogecoin jumping as much as 12 per cent and XRP increased around 7.3 per contentPosthasteBreaking business news, incisive views, must-reads and market signals. Weekdays by 9 signing up you consent to receive the above newsletter from Postmedia Network for signing up!A welcome email is on its way. If you don't see it, please check your junk next issue of Posthaste will soon be in your encountered an issue signing you up. Please try againInterested in more newsletters? Browse contentLiquidations of long and short positions across digital assets have climbed to US$917 million over the last 24 hours, the highest since late August, when bitcoin saw a record wave of bearish bets wiped out largely due to a sharp rally in the token, according to data from compiled Coinglass. About US$767 million in short positions was liquidated in that content“Financial markets have rediscovered a risk-on frame of mind after being consumed with worry about government bond yields, debt piles and the prospect of a return to tighter policy at the world’s most powerful central bank,” said Chris Beauchamp, chief market analyst at investing and trading platform contentBitcoin’s gains build upon a recovery that began late last week, when crypto absorbed the failure of the landmark Clarity Act to establish a clearer understanding of industry regulation as well the Federal Reserve’s first interest-rate increase in more than three years. A green light on Thursday from the Securities and Exchange Commission for digital versions of securities to start trading in the U.S. helped to brighten the contentArticle contentArticle content“The crypto market capitalization has risen to US$2.8 trillion, its highest level since the end of January this year,” said Alex Kuptsikevich, the FxPro chief market analyst. “Although Friday’s rally was followed by increased selling pressure, buyers have once again been dominating the cryptocurrency market since Sunday.”Article content