1100 GMT - Institutional inflows into bitcoin will be required to extend the cryptocurrency's rally further, IG analyst Chris Beauchamp says in a note. "For the moment it looks like the outflows have been staunched, and the beginnings of an inflow revival are in play." This is key for a sustained bounce so the focus will be on upcoming flow data, he says. Bitcoin's recent gains come after the U.S. Treasury announced increased buybacks of long-term bonds. This prompted markets to sell the dollar and seek alternative assets like cryptocurrencies in so-called dollar debasement, he says. Bitcoin rises 0.5% to $77,804 after reaching a three-month high of $79,455 Friday, LSEG data show.
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