Bitcoin ETFs Attract Record Investments as Cryptocurrency Surpasses $80K

Bitcoin's recent surge past the $80,000 mark has led to a significant influx of investments into spot Bitcoin exchange-traded funds (ETFs). According to reports, Bitcoin ETFs recorded $532.21 million in net inflows on May 5, with BlackRock's iShares Bitcoin Trust leading the charge at $335.49 million.

The cryptocurrency's market capitalization has now reached $1.62 trillion, up 0.65% over the past 24 hours, according to CoinMarketCap data. This surge in investments follows a three-day period of outflows last week, during which $490.63 million exited these funds, highlighting the volatile nature of institutional sentiment.

Analysts note that Bitcoin's move past the psychological $80,000 level was aided by a short-side liquidity squeeze in the $79,500-$81,000 range. Key support for leveraged longs now lies in the $77,000-$78,000 zone, suggesting traders are keeping a close eye on these levels to manage risk.