Crypto Market Rises as Bitcoin Nears $78,000

Bitcoin is trading around $77,700–$78,000 after seven consecutive days of ETF inflows. Bitcoin reserves on exchanges are also near historic lows, which analysts say could reduce selling pressure and support higher prices.
Hong Kong Institutions Launch New Bitcoin Fund
Chinese crypto entrepreneur Li Lin is reportedly shifting trading systems and investment teams into a Hong Kong-listed company to launch a Bitcoin asset management strategy called Alpha BTC. This reflects growing institutional demand for digital assets in Hong Kong.
Bitcoin Hits 11-Week High
Bitcoin briefly reached $79,468, its highest level since February. The move was driven by major purchases from Strategy worth $2.54 billion, along with continued ETF demand.
XRP ETF Launch Delayed
The launch of a leveraged ETF based on XRP by GraniteShares on Nasdaq has been postponed until May 7, 2026. The delay slightly impacted XRP market sentiment.
Overall Market Sentiment
The crypto market currently looks bullish, supported by ETF inflows, institutional accumulation, and lower Bitcoin supply on exchanges.
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