Breaking news

Bitcoin Surges To Record High Amid Robust ETF Inflows

Bitcoin Sets New Milestones

Bitcoin extended its upward trajectory on Friday, reaching unprecedented heights as it closed higher by 3% at $117,297.10, according to Coin Metrics. Earlier in the session, the flagship cryptocurrency peaked at $118,872.85, spearheading the market rally. Ether similarly surged by nearly 6% to $2,976.90, briefly climbing above the $3,000 threshold for the first time since February.

ETF Inflows Ignite Renewed Market Confidence

The current rally is largely underpinned by significant capital inflows into bitcoin and ether ETFs. Bitcoin ETFs recorded their largest day of inflows this year, attracting $1.18 billion, while ether ETFs notched a substantial $383.1 million. This influx of funds has bolstered investor sentiment, even as stocks tied to bitcoin prices, such as Mara Holdings, Riot Platforms, and MicroStrategy, witnessed moderate gains between 1.5% and 3%. Key crypto trading platforms like Coinbase and Robinhood also experienced gains around 1%.

Market Dynamics And Short Liquidations

The upward momentum in bitcoin triggered a wave of short position liquidations, with more than $650 million in bitcoin and $215 million in ether liquidated over the past 24 hours. Traders employing leveraged short strategies were forced to cover their positions, further energizing the price surge—a dynamic that reflects broader market trends seen since mid-April, when bitcoin ETF inflows began rising significantly.

Fed Policy And Macro Trends

The rally followed a gradual start on Wednesday, influenced by Federal Reserve meeting minutes that revealed divergent views on the pace of interest rate cuts. Markus Thielen, CEO of 10x Research, noted that expectations of a dovish shift from the Fed, coupled with potential fiscal policy changes like the proposed “One Big Beautiful Bill Act,” have helped support bitcoin’s ascent. He added that the current macro environment offers limited catalysts, leading equity investors to adopt a more cautious short-term approach during the summer season.

Investor Outlook And Future Catalysts

With bitcoin on track for a nearly 10% weekly gain and ether up over 20%, investor enthusiasm remains high. Market participants are betting on further record-breaking moves in the second half of the year, as corporate treasuries increase their bitcoin acquisitions and legislative clarity on crypto regulations approaches. While any significant macroeconomic downturn could reverse the trend, the current consensus favors continued upward momentum driven by strong ETF inflows and evolving fiscal and policy landscapes.

Cyprus Expects More French Visitors In 2027 As Air Capacity Expands

Cyprus expects more French visitors in 2027 as airlines increase capacity between the two countries, Tourism Deputy Minister Kostas Koumis said after meetings with tour operators in Paris.

France, one of Cyprus’ key tourism markets, has had a difficult 2026. French arrivals fell 46% year over year to 8,453 in August, from 15,663 a year earlier, according to the Statistical Service of Cyprus (Cystat). August arrivals were also nearly 50% below the 16,798 recorded in the same month of 2024.

Overall, Cyprus received 2.82 million tourist arrivals between January and August, down 7% from the same period in 2025.

Air Connectivity Supports 2027 Outlook

Koumis discussed the 2027 outlook with senior executives from tour operators offering Cyprus holidays during the IFTM Top Resa travel trade fair in Paris.

Higher air capacity between France and Cyprus was a key focus of the talks. Participants also discussed the impact of geopolitical tensions in the Middle East on the French market and Cyprus’ efforts to adapt its tourism offering to French travelers.

“The French market is undoubtedly an extremely important market for our country’s tourism,” Koumis said, adding that France had regained importance only a few years ago and still had room to grow.

Improved air connectivity will be an important factor in that expansion, according to Koumis. “It is now clear that air connectivity between France and Cyprus is improving significantly, which is a basic prerequisite for the further growth of the market,” he said.

Cyprus Promotes Tourism And Regional Cooperation

Koumis attended the opening of IFTM Top Resa at the invitation of French Tourism Minister Serge Papin, who later visited the Cyprus stand. Held from Sept. 15 to 17 at Paris Porte de Versailles, the event brought together more than 32,000 tourism professionals representing 177 destinations and 1,650 brands, according to organizers.

During his visit, Koumis also met Egyptian Tourism Minister Sherif Fathy. Cyprus and Egypt reaffirmed their tourism cooperation and discussed opportunities to strengthen ties further.

French media interviews covered Cyprus’ tourism offering, infrastructure and services, along with efforts to develop specialized tourism products. Regional instability weighed on arrivals in 2026, particularly during the spring, although the decline narrowed over the summer.

eCredo
The Future Forbes Realty Global Properties
Uol
Aretilaw firm

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter