Bitcoin Reclaims $86,000 as Halving Cycle Hits 61% and ETF Inflows Surge

Bitcoin traded near $86,099 after touching intraday highs of $87,397, reclaiming key levels above $86,000 to reach its highest point since January. The advance follows technical strength, with Bitcoin closing above its 365-day moving average after nearly 300 days below it. On-chain data indicates the network reached 61% progress toward its next halving, estimated for April 13, 2028, with about 109,000 blocks remaining before rewards drop from 3.125 BTC to 1.5625 BTC. Institutional demand surged simultaneously, with U.S. spot Bitcoin ETFs drawing around $1 billion in daily inflows, led by BlackRock's IBIT at $381 million.