🚀🚀🚀 #bitcoin eyes all-time high with 4% gap as #ETFs attract massive inflows
Bitcoin's price surged to $71,200 on Tuesday, approaching its all-time high of $73,700 set in March, according to TradingView data. This rally follows significant inflows into US spot Bitcoin exchange-traded funds (ETFs).
HODL15Capital reported that US Bitcoin funds experienced net inflows of $887 million, the second-largest influx ever recorded. The Fidelity Wise Origin Bitcoin Fund led with $378 million, followed by #BlackRock ’s iShares Bitcoin Trust with $275 million, and the ARK 21Shares Bitcoin ETF with over $138 million, as noted by Farside Investors and HODL15Capital.
These substantial inflows are the most significant since March 12, when a record $1.04 billion was invested, driving Bitcoin to its peak of $73,700 the following day.
Currently, Bitcoin is trading near $71,000, up almost 3% in the last 24 hours. This recent surge marks a positive shift for Bitcoin after weeks of sideways movement. Industry experts anticipate a “bright June” for the crypto market, bolstered by expected developments in spot Ethereum ETFs.
Nate Geraci, president of ETF Store, addressed the initial skepticism about Bitcoin ETFs, highlighting their strong demand, especially among retail investors.
Source - cryptobriefing.com
