7 months ago
Bitcoin (BTC) surged 6% connected Feb. 26 to a caller two-year precocious of $54,910 aft US markets began trading, an denotation of rising involvement successful the flagship crypto from retail and organization investors.
Bitcoin was trading astatine astir $54,650 arsenic of property time, up 5.6% connected a regular basis, with a marketplace headdress of $1.07 trillion, according to CryptoSlate data.
Start of winter
The past clip Bitcoin was trading astatine these levels was successful December 2021 — 21 days aft it deed a caller all-time precocious of $69,044 connected Nov. 10, 2021.
On Dec. 3, 2021, Bitcoin was trading astir $54,365 aft giving up important gains implicit the past 3 weeks pursuing its rally to a caller all-time precocious amid profit-taking and shifting marketplace conditions.
However, the drawdown had lone conscionable begun, arsenic the flagship crypto saw a terrible dip implicit the adjacent 24 hours that took Bitcoin to a achy debased of $42,000 earlier recovering immoderate of the astir $15,000 successful losses earlier the time closed.
By the extremity of Dec. 4, 2021, Bitcoin was trading astatine $49,191, down 8.6% implicit a azygous day.
ETF performance, halving hype
Spot Bitcoin ETFs person continued their beardown show implicit February and experienced a important spike successful measurement connected Feb. 26 to acceptable a caller grounds of $2.4 cardinal successful regular volume.
According to information shared by Bloomberg ETF expert Eric Balchunas, BlackRock’s spot Bitcoin ETF IBIT posted a grounds trading measurement of $1.3 cardinal arsenic of property time, which brings it to the apical 0.3% of each ETFs and the apical 25 of each stocks for the day.
Meanwhile, spot Bitcoin ETF inflows for the past week stood astatine $583 million. The full is made up of much than $1 cardinal successful inflows, which are offset by $436 cardinal of Grayscale’s GBTC outflows.
Notably, GBTC outflows person slowed down importantly implicit the past mates of weeks, with the ETF signaling lone $44.2 million successful outflows connected Feb. 23.
The station Bitcoin reclaims $54k 2 years aft achy clang astatine the commencement of winter appeared archetypal connected CryptoSlate.
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