Bitcoin (BTC) traded back above $80,800 in early Thursday Asian trade, recovering more than $1,600 from its post-Amazon-earnings dip to a session low of $79,200, as digital-asset markets digested the most consequential single-night AI infrastructure capex print in industry history. The combined upgraded fiscal 2026 capex commitments from Microsoft ($90B+ run-rate), Alphabet ($80B reaffirmed), Meta ($97-$103B raised), and Amazon ($110-$120B raised) total more than $385 billion — a number that reignited the structural-risk-on framework that crypto markets had pared back.
Ether (ETH) outperformed BTC on the move, breaking above $2,560 in Asian trade for a 3.4% intraday gain. The ETH/BTC pair printed 0.0317, the highest level since mid-March. Solana (SOL) added 4.2% to $182, while Sui (SUI) jumped 6.1% to $4.15 as the smaller-cap, higher-beta book outperformed in the move. The CoinDesk 20 Index gained 2.8%.
ETF Flows Turn Positive
CoinShares preliminary flow data showed U.S. spot bitcoin ETFs received $284 million of net inflows on Wednesday — the largest single-day inflow in 11 sessions. iShares Bitcoin Trust (IBIT) led at +$162 million, followed by Fidelity Wise Origin (FBTC) at +$74 million. Spot ether ETFs saw $48 million of inflows, with iShares Ethereum Trust (ETHA) capturing $21 million. The collective AUM of U.S. spot crypto ETFs is now $123 billion, up from a January low of $98 billion.
Coinbase Global (COIN) shares rose 4.8% in extended trade to $278, MicroStrategy (MSTR) jumped 6.4% on its leveraged BTC exposure, and Marathon Digital (MARA) gained 5.1%. The 30-day BTC implied volatility traded at 38%, off the recent 41% mid-April highs. The Deribit BTC put-call skew flipped positive (calls bid over puts) for the first time in nine sessions.