2024-03-22 08:47:14
Bitcoin Surges Back as BTC Reclaims $67K It's still not quite level with its price from a week ago—but then that was when BTC soared past $73,000 to set a new all-time high
Bitcoin's price reached a peak of $68,120.08 but stabilized around $66,828.32, marking a 6% increase over 24 hours but still short of last week's record high of over $73,000.
The drop in crypto prices earlier in the week was attributed to large sell orders on BitMex, which briefly crashed Bitcoin to $8,900 on their spot exchange. BitMex clarified that this did not affect their derivatives market, with no mark price impact or liquidations, and they're investigating the trades causing the flash crash.
Bitcoin ETFs are seeing a net outflow, with $261 million withdrawn on one day, and a total of $742 million for the week. Grayscale Bitcoin Trust (GBTC) experienced significant redemptions totaling $1.5 billion this week.
Meanwhile, inflows into BlackRock's iShares Bitcoin Trust (IBIT) continue, with the possibility of it overtaking GBTC as the largest spot Bitcoin ETF if current trends persist. Currently, IBIT holds 238,000 BTC to GBTC's 361.6 thousand BTC.
My Course Website: uniledger.online
My X- https://twitter.com/uniledger1
6.4K views05:47
C
