Bitcoin Tops $47K as Spot Bitcoin ETFs Book One of Their Best Days
Spot bitcoin ETFs attracted Thursday their third-largest net inflows since debut, increasing their holdings by 9,260 BTC.
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Spot bitcoin ETFs attracted Thursday their third-largest net inflows since debut, increasing their holdings by 9,260 BTC.
Bitcoin targets $48,000 in the short term fueled by a strong historic track record around the Chinese New Year, 10X Research’s Markus Thielen said.
Skybridge Capital founder and managing partner Anthony Scaramucci sees bitcoin {{BTC}} soaring to at least $170,000 after the halving in April, when the number of new bitcoin entering circulation shrinks again.
Bitcoin slipped below $42,000 on Friday, stalling below its yearly high.
Investors moved the highest amount of BTC to exchanges since March, IntoTheBlock noted, signaling profit-taking after bitcoin’s first eight-week streak of gains since 2017.
Bitcoin endured its worst daily drawdowns in 4 months, dipping over 7% to nearly $40,000. $XRP, $LINK, $ADA declined 8%-10%.
The move prompted $73 million in liquidations, during the day predominantly leveraged short positions betting on lower prices.
Bitcoin hit a fresh yearly high of $42,000, pushing the market capitalization of all cryptocurrencies over $1.5 trillion for the first since May 2022.
Bitcoin hit an 18-month high near $38,000 before pulling back sharply.
Polygon’s MATIC and Chainlink’s LINK led altcoin gains Wednesday afternoon.