Despite the growing demand for spot Bitcoin ETFs, the price of Bitcoin (BTC) has remained remarkably steady, teetering just above the $64,000 mark.
Bitcoin’s recent journey has been a wild ride, fueled by the mounting tensions between Israel and Iran. In a dramatic turn of events, the cryptocurrency’s value took a plunge last Friday, dropping below the $60,000 mark. The market was left reeling as investors scrambled to make sense of the sudden volatility.
After much speculation and anticipation, the long-awaited Bitcoin halving event finally occurred, causing a surge in the cryptocurrency market. As the dust settled and the issue was seemingly resolved, the value of Bitcoin skyrocketed by a staggering $5,000, reaching a stable high of $65,000. The atmosphere was buzzing with excitement as investors rode the wave of positive momentum, propelling Bitcoin to a local peak of $67,000.
Bitcoin (BTC) put up a valiant fight, but ultimately succumbed to the relentless bears, sending it tumbling below the $63,000 mark. Yet, just when all hope seemed lost, the mighty Bitcoin (BTC) rose from the ashes and soared past $65,000 in a stunning rebound. As the sun sets on the trading day, Bitcoin (BTC) stands tall at $64,455, ready to face whatever challenges lie ahead.
As the world of cryptocurrency reaches a pivotal moment, the aftermath of the highly anticipated Bitcoin Halving event has brought about a rollercoaster of emotions. Amidst the current bearish climate, glimmers of hope emerge as select altcoins experience unexpected spikes, hinting at a potential bullish trend.
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What’s Happening With Bitcoin ETFs
In just two days, Bitcoin ETFs have seen a staggering net outflow of $217 million, resulting in a total loss of $337 million. Despite this downward trend, there’s a glimmer of hope as BlackRock’s IBIT ETF recorded its second day in a row of $0 inflows. And don’t let that number fool you – with a whopping $15.48 billion in cumulative inflows since its launch, IBIT is still leading the pack as the top contributor to positive flows.
Despite a recent wave of outflows, the Bitcoin ETF market remains confidently optimistic, with a whopping $12.08 billion in cumulative net inflows.
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