Bitcoin's price surge towards $100,000 was contrasted by the net outflows from Bitcoin spot ETFs, which saw a significant drain of capital. Bitcoin dropped below $100,000 and reached a three-week low of $92,000, leading to speculation about the end of the bull run. Bitcoin ETFs experienced a net outflow of $277 million on December 20, following a tough day for the sector on December 19 with $671.9 million in net outflows. Ethereum's ETFs also faced a net outflow of $75.12 million. However, both Bitcoin and Ethereum showed signs of recovery by mid-week. The rebound in BTC's price was partially attributed to renewed buying activity, particularly on Coinbase. The broader cryptocurrency market started to recover, with some altcoins posting double-digit increases. Traders and investors are closely monitoring BTC's next moves in hopes it will regain and maintain levels above $100,000.
- Content Editor ( cryptopolitan.com )
- 2024-12-21
Bitcoin price surges to $99K hours after record Bitcoin ETF outflow