Bitcoin saw a surge this weekend, with its price topping $48,000 for the first time since spot-based bitcoin exchange funds began trading.
Trading volume and bitcoin sentiment have been suppressed over the past two weeks due to outflows from the Grayscale Bitcoin ETF.
Nevertheless, bitcoin is up 10% for the week.
Positive sentiment appears to be returning as GBTC outflows have slowed, and momentum from the S&P 500 may also be influencing the crypto market.
The move also lifted other crypto stocks, including Coinbase, Microstrategy, Riot Platforms, and Marathon Digital.
Bitcoin is approaching a key resistance level at $48,600, which if reached could open the door to a new record high.
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news from the news check in more depth at : https://www.cnbc.com/2024/02/09/bitcoin-tops-48000-in-a-big-comeback-to-end-the-week.html
