Bitcoin extended its recovery to $87,397, its highest level since late January 2026, after holding above $85,000 and breaking above recent trading ranges. Nearly $1 billion in U.S.-listed spot Bitcoin ETF inflows, short covering and derivatives buying supported the advance. Bitcoin traded between $75,000 and $81,000 last week, closed at $81,159, and subsequently reached $86,000, which Wintermute described as an eight-month high. Weekly spot ETF outflows narrowed to about $6 million after $592.5 million in combined net inflows on Thursday and Friday. Bitcoin also reclaimed all long-term moving averages after about 300 days below them and closed above its 365-day average for the first time since March 2023. On-chain analyst Root said progress toward the next halving had reached 61%, while OKLink estimated the event for April 13, 2028, with 109,012 blocks remaining. The reward is expected to fall from 3.125 BTC to 1.5625 BTC. Wintermute said the market was establishing a higher trading band while absorbing profit-taking, and Fundstrat's Sean Farrell called the breakout credible while cautioning that prices could still correct.