Bitcoin

Spot

Coin

<ul class="wp-block-list news-points"> 
 <li>Bitcoin once again aims to test the 69,000 price level, a major resistance.</li> 
 <li>US Spot ETFs also witnessed close to $400 million in inflows.</li> 
 <li>Bitcoin has surged 4.45% in the past seven days and 100% since October 2023.</li> 
</ul> 
Bitcoin (BTC), the world’s largest cryptocurrency with a market cap of $1.3 trillion, may be approaching a new all-time high, based on inflow data. Although it repeatedly failed to break above $70,000, strong inflows into US spot exchange-traded funds (ETFs) suggest a new all-time high is possible. 
According to the <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="nofollow">data</a> from CoinMarketCap, Bitcoin is once again making a move towards the strong resistance zone of $70,000 and is trading at $68,193.91, up 1.76% in the past 24 hours. Moreover, the digital asset is only 7.42% below its all-time high of $73,750, reached in March with the approval of spot BTC ETFs. 
Moreover, US spot BTC ETFs received a substantial $402.08 million in inflows as of October 25th. BlackRock’s iShares Bitcoin Trust (IBIT) reached $291.96 million in inflows, totaling $23.99 billion in cumulative net inflows. Fidelity’s (FBTC) received $56.95 million in inflows. 
In the past week, Bitcoin has risen only 0.19% while su…
The post <a href="https://coinedition.com/bitcoin-price-soars-as-institutions-pile-into-spot-etfs/">Bitcoin Price Soars as Institutions Pile into Spot ETFs</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Bitcoin Price Soars as Institutions Pile into Spot ETFs

Coin Edition

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