Bitcoin Bulls Are Back? ETFs Pull Over $730 Million as BTC Surges Above $82,000 and Fed Rate-Hike Bets Fa

Spot Bitcoin (CRYPTO: BTC) exchange-traded funds pulled in over $730 million on Thursday, the third-largest daily inflow of the year, as the apex cryptocurrency surged past $82,000.

BlackRock Leads BTC Purchases

BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT), the world’s largest cryptocurrency-focused fund, alone accounted for nearly $454 million, according to data from SoSo Value.

The two largest single-day inflows previously occurred on consecutive days in January, peaking at $843 million on Jan. 14.

Cumulative net inflows into U.S.-based Bitcoin ETFs have now reached $55.44 billion, with roughly $2.8 billion coming over the last two weeks. A third straight week of net ETF inflows is on the table if this week finishes positive.

Bitcoin Rally Drives Institutional Interest

The surge in institutional interest coincided with Bitcoin’s ongoing momentum. The apex cryptocurrency climbed above $82,000 on Thursday and has jumped over 26% over the month.

Bitcoin’s open interest spiked 6.61% in the last 24 hours, according to Coinglass, suggesting increased speculative activity.

Scott Melker, a widely followed cryptocurrency analyst, flagging $82,814 as a pivotal level for a potential trend shift.