Bitcoin nears $80K but eyes $96K as institutional demand soars, signaling a strong rally ahead.

Bitcoin briefly surpassed $80,000 before retreating to around $79,200, maintaining a slight 0.4% gain over 24 hours. Institutional demand is driving this momentum, with investors absorbing over five times the daily new Bitcoin supply, according to Capriole Investments founder Charles Edwards. This strong buying pressure, fueled by inflows into U.S.-listed Bitcoin ETFs and major accumulators like Michael Saylor, historically precedes significant price gains. If past trends hold, Bitcoin could rally about 24% to reach near $96,000 by June, supported by key on-chain metrics and sustained institutional interest.