CandleFocus Bitcoin Breaks $65K With $365 Million In Spot ETF Inflows Fueling The Rally
2024-09-28
Author: Content Editor
Bitcoin has seen a surge in institutional interest as spot Bitcoin ETFs have seen remarkable inflows of $365 million, with BlackRock's Bitcoin ETF leading the way with a daily flow of $184 million. This increase in institutional investment is partly due to the Federal Reserve's decision to lower interest rates, prompting investors to look for alternative assets like Bitcoin. The overall digital asset investment market has also seen continuous inflows, with Bitcoin accounting for the majority. Analysts are monitoring these inflows as they could impact future price movements, especially considering the high profit margins of Bitcoin holders and the expiration of $5.8 billion worth of options contracts.
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