Bitcoin Extends Rally as Institutions, Whales, and Options Traders Add Exposure

Bitcoin and the wider crypto market have recently pushed higher, according to ME News. The move comes as market watchers say the White House has reached consensus on the ethical provisions of the CLARITY Act, a development that could improve the bill's chances in Congress and open the door to broader institutional participation in digital assets. Flows suggest the rally is being supported by multiple buyer groups. U.S. spot Bitcoin ETFs recorded more than $700 million in net inflows over the past five trading days, the longest streak of consecutive net inflows since May. The reversal follows the heavy selling seen earlier this summer, when the market faced about $7.5 billion of redemption pressure from mid-May through June. On-chain trends also point to uneven positioning. Large Bitcoin "whales" have steadily added to holdings over the past two months, while mid-sized wallets have been net sellers—a split some analysts view as constructive for Bitcoin's medium-term outlook. Derivatives activity has picked up as well. In recent sessions, a trader or group reportedly bought a sizeable Bitcoin call-spread position, targeting a move to $72,000 before month-end. (Source: ODAILY)