U.S. spot Bitcoin ETFs pulled in $606 million Thursday, the biggest haul since May. And altcoin funds finally showed up too.
Bitcoin surges above $75,000 as Treasury buybacks trigger short liquidations and rapidly shift crypto market sentiment.
Bitcoin's growth hinges on macroeconomic shifts, with institutional investors cautious, awaiting clear signals from the Federal Reserve. CoinShares projects Bitcoin to remain range-bound below $80,000.
The US government's Bitcoin reserve policy limits market impact by reducing sell pressure, but lacks the buying power to drive prices up. US government unlikely to buy Bitcoin for Strategic Reserve, says Bitget CEO.
Tether has walked away from its Bitcoin mining operation in Uruguay, abandoning two facilities that cost an estimated $120 million after a prolonged tussle with state utility UTE over the power numbers available to the sites. This move ends the USDT issuer's initial move into South American mining.
Bitcoin rallied as Treasury bond buybacks fueled the “not-QE” trade, while Metaplanet expanded to the US and Cypherpunk made a $33 million Zcash mining bet.
The consistent large Bitcoin transfers to Coinbase Institutional suggest growing institutional interest and potential ETF-related demand. 1,049 Bitcoin transferred from Binance to Coinbase Institutional in $81.5M whale move.
Bitcoin ETFs attracted $606.29 million on Thursday, their strongest session of the week, while ether funds added $220.77 million. Solana, XRP and HYPE ETFs also finished in positive territory as the crypto rally spread across the fund market. Demand Surges as Bitcoin ETFs Add $606.
American equity markets posted modest gains Friday, with the Dow Jones Industrial Average outpacing other major indexes as cryptocurrency hit a significant threshold.
Bitcoin ($BTC) continues its march higher after an extended period of price doldrums. Right now, Bitcoin is trading around $76,000, after topping $78,000 earlier today.
The largest cryptocurrency surged 7.9% in a day to around $77,000, triggering a short squeeze that wiped out roughly $1.21 billion in bearish bets amid a wave of favorable news from Washington.
Bitcoin veteran and vocal advocate Michael Saylor is finally back in profits as his unmatched resilience and Bitcoin conviction begin to pay off following the ongoing market rally.