Bitcoin surges past $79,000 as institutional demand strengthens

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By BizWatch Nigeria

Key Points

• Bitcoin price climbs above $79,000 amid renewed institutional demand
• $629.8 million inflow into US spot ETFs boosts market sentiment
• Hyperliquid launches crypto-native prediction market
• Trading volume rises 9% to $18.6 billion

Main Story

Bitcoin extended its bullish run over the weekend, climbing above $79,000 as renewed institutional interest and new market innovations lifted sentiment across the cryptocurrency sector.

Trading data showed the world’s largest digital asset hovering around $79,300, with daily trading volumes rising by approximately 9% to $18.6 billion. The asset has now gained about 18.5% over the past month, pushing its market capitalisation to roughly $1.6 trillion.

The latest rally is being driven largely by a resurgence in institutional participation, particularly through spot exchange-traded funds (ETFs). On May 1, US-based Bitcoin ETFs recorded a combined net inflow of $629.8 million, reversing a recent period of outflows.

BlackRock’s iShares Bitcoin Trust (IBIT) accounted for $284.4 million of the inflows, underscoring strong demand from large-scale investors seeking regulated exposure to the asset class.

The influx of institutional capital has provided sustained buy-side pressure, helping stabilise prices and offset retail-driven volatility.

In parallel, crypto trading platform Hyperliquid has launched a new prediction market feature on its mainnet, marking a significant evolution in blockchain-based financial instruments.

The platform’s HIP-4 upgrade introduces fully collateralised, outcome-based contracts focused initially on Bitcoin price direction. Unlike traditional leveraged trading, the system eliminates liquidation risks, offering traders a new way to hedge or speculate.

What’s Being Said

Market analysts note that institutional flows are currently the dominant driver of Bitcoin’s price momentum.

“Large, regulated funds adding Bitcoin exposure are helping stabilise prices and counter retail selling pressure.”

On the innovation side, Hyperliquid’s new feature is seen as a structural shift in crypto markets.

“Prediction markets are no longer just information markets—they’re becoming genuine trading markets.”

What’s Next

Analysts expect Bitcoin’s trajectory to remain closely tied to institutional flows and macroeconomic developments. The expansion of crypto-native financial instruments, such as prediction markets, could further deepen liquidity and broaden market participation.