Bitcoin is back above $81,000, and this move is not coming from a single narrative. Spot ETF demand has returned, while traders are reacting to a week of regulatory and macro shocks. $BTC climbed more than 5% after spending the week near $77,000–$78,000. On Thursday, U.S. spot Bitcoin ETFs recorded about $160 million in net inflows, reversing two sessions of outflows. That return of institutional demand helped provide the liquidity behind Friday’s breakout above $80,000. The timing matters. Bitcoin had just absorbed the first Federal Reserve rate hike in three years and the failure of the CLARITY Act to advance in the Senate. Yet neither catalyst produced the sell-off bears expected. Instead, buyers stepped back in. Technically, reclaiming $80,000 puts $81,000–$81,500 into focus as the immediate resistance zone. A sustained break could expose $83,000, while losing $80,000 would risk a move toward $77,000–$78,000. ETF flows matter because they represent structural spot demand rather than leveraged futures positioning. But one strong session does not prove a new trend. The real test now is simple, can ETF inflows stay positive long enough for BTC to hold above $80,000?