Bitcoin surges past $82,000
Bitcoin started Monday, October 19, on a positive note as stronger-than-expected economic data from China and declining oil prices boosted global risk appetite.
Bitcoin gained more than 1.3% during Asian trading, climbing as high as $82,773. Ether and Solana also joined the cryptocurrency market recovery, rising 3.7% and more than 4.6%, respectively. China's economy grew 4.5% in the third quarter, exceeding expectations of 4.4%, while retail sales increased 1.1%, supporting positive market sentiment.
Falling oil prices also eased inflation concerns, increasing demand for risk assets. However, Bitcoin was unable to fully recover its approximately 3% loss from the previous week. Net outflows totaling $909.6 million from US-listed spot Bitcoin ETFs over the past two weeks indicated continued weakness in institutional investor demand. Analysts described the latest gains as a recovery following the previous week's sharp sell-off, while emphasizing that geopolitical risks and market uncertainty persist.
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