Bitcoin Surpasses US$80,000 Boosted by ETF and Geopolitical Sentiment

Jakarta, VIVA – The cryptocurrency asset Bitcoin (BTC) has strengthened again, breaking through the US$80,000 level on Tuesday. This surge marks the highest position in the last three months since January 2026.

Indodax Vice President Antony Kusuma stated that this was due to a dual boost: significant institutional fund inflows through Bitcoin ETFs, recorded at US$625 million in one trading day.

On the other hand, Bitcoin’s movement is also influenced by a combination of strengthening global sentiment, including increased interest in risk assets amid improving crypto market liquidity, as well as rising geopolitical uncertainty.

“Bitcoin is currently in a unique position because it is receiving a boost from two directions at once. On one side, it moves following global market sentiment, but on the other side, it is also beginning to be considered as an alternative amid geopolitical uncertainty,” said Antony, quoted on Thursday, 7 May 2026.

This condition, according to him, is pushing investors to seek alternative hedge assets outside the traditional financial system, especially as this strengthening is also supported by a surge in market activity, with daily trading volume reaching around US$48 billion.

“This condition indicates positive momentum in the market, but the dynamics occurring in the market still need to be analysed carefully,” said Antony.

In addition, he added, data from CoinMarketCap shows that the total assets in Bitcoin ETFs are now around US$105 billion, and this reflects increasing participation and confidence from institutional investors, which is one of the important factors in supporting market movements.

Antony stated that this strengthening momentum is beginning to reflect a bullish tendency in the market, although it is still in a phase that needs to be monitored carefully.

The price increase supported by institutional fund flows and global sentiment shows that interest in cryptocurrency assets, particularly Bitcoin, remains quite strong. However, he reminded that the sustainability of this momentum will very much depend on the consistency of market liquidity as well as developments in external factors, such as macroeconomic conditions and global geopolitical dynamics.

“Therefore, volatility remains the main characteristic of cryptocurrency assets that investors need to understand when making decisions,” he said.