Bitcoin Nears $80K as Whales Accumulate, ETF Inflows Fuel Rally: Experts

Bitcoin (CRYPTO: $BTC) climbed above $79,000 on Friday, extending its gains for a fourth straight day as large holders increased their exposure and institutional money returned to the market.

BTC rose more than 6% to reach its highest level since May, with analysts pointing to a mix of improving liquidity, regulatory optimism and renewed demand from larger investors.

Simon-Peter Massabni, head of business development at XS.com, told Cryptoprowl that the latest move was supported by renewed accumulation among Bitcoin's largest holders. According to BGeometrics data cited by Massabni, entities holding more than 10,000 BTC added over 30,000 Bitcoin in a single day and more than 55,000 BTC over the past month.

Their combined holdings have now surpassed 300,000 BTC, reaching their highest level since November 2024, Massabni said.

Institutional demand has also picked up. Spot Bitcoin exchange-traded funds have recorded more than $1.6 billion in net inflows so far this week, putting them on track for their strongest weekly performance since October, according to SoSoValue data.

Bitcoin futures activity has risen alongside the spot market. Open interest climbed above $54 billion, nearly $10 billion higher than its late-June low, according to CoinGlass.