Bitcoin reclaimed key technical levels and hit $86,000 amid record institutional ETF inflows, despite ongoing macroeconomic pressure from rising 10-year Treasury yields.
Bitcoin surged 14% to $86,000 after the CLARITY Act died and the Fed hiked, closing above its 50-week moving average for the first time in nearly a year, with analysts targeting $95,000–$100,000.
BlackRock's IBIT ETF led a record $999 million one-day inflow into spot Bitcoin ETFs, reflecting strong institutional adoption but with no direct catalyst for BLK's own stock price.
ARK's ARKB ETF was a major contributor to record Bitcoin ETF inflows, indicating favorable crypto market conditions for ARK's product offering.
Bitcoin rallied 14% to $86,000, reclaiming its 50-week moving average for the first time in a year following the failure of the CLARITY Act. Institutional demand surged, with spot Bitcoin ETFs recording a single-day inflow of $999 million, led by BlackRock and ARK, as analysts eye a potential move toward the $95,000 to $100,000 range.
The rally is driven by the failure of the restrictive CLARITY Act, strong institutional buying through spot ETFs, and a technical breakout above the 50-week moving average.
Key risks include a daily close below the $75,000 support level and 10-year Treasury yields sustaining levels above 5%, which could dampen demand for non-interest-bearing assets.