Bitcoin Gains, Price Rises to $78.5k on Aggressive Spot Buying
Bitcoin (BTC) price rose by 3% to $78,490 outpacing a broader market that rose 1.77%, primarily driven by renewed institutional demand amid spot ETF inflows.
Renewed spot ETF inflows and aggressive spot buying, with Cumulative Volume Delta (CVD) surging 199% in a week. After three days of outflows, U.S. spot Bitcoin ETFs saw net inflows re-accelerate, with BlackRock’s IBIT ETF rising 1.33% in the latest session.
Aggressive spot-market buying is confirmed by a 199.1% weekly surge in Spot Cumulative Volume Delta to $54.8 million. This spot-led rally distinguishes it from leverage-driven moves and indicates returning institutional conviction.
The price move is structurally supported by real capital entering the market, not just futures speculation. The weekly ETF flow data due next week; sustained inflows are critical for maintaining momentum.
Bitcoin’s rise coincided with a strong rally in U.S. equities, driven by better-than-expected Q1 earnings from tech giants like Apple and Alphabet. This boosted overall risk appetite, tightening Bitcoin’s correlation with the Nasdaq.
Bitcoin is acting as a high-beta tech proxy, and its short-term direction remains sensitive to traditional market sentiment. Analysts said any shift in Federal Reserve rhetoric or economic data could dampen the current risk-on mood.
Technically, Bitcoin is trading above its key 7-day and 30-day moving averages, with Relative Strength Index readings in the 66–74 range suggesting strong momentum but not extreme overbought conditions. The immediate trigger is the sustainability of ETF flows.
If Bitcoin holds the $78,000 level, the next target is the psychological $80,000 barrier, followed by the Fibonacci extension at $80,758. A failure to hold support at $75,000 risks a deeper correction toward the $72,000 zone. XRP Price Climbs to $1.40 on Ripple’s Conference Hype
