Bitcoin Traders Look at $70,000 Mark Again as Money Flows Into U.S. ETFs
Bitcoin traders are once again aiming for the $70,000 mark reached in June, after the cryptocurrency fell across the board at one point late on Friday, while money has been steadily flowing into US exchange-traded funds (ETFs). a report from CoinShares showed that inflows into the digital asset reached $910 million last week, pushing year-to-date inflows to $27 billion, almost double the record high of 2021 The report shows that digital assets, the second largest Ether, the second-largest digital asset, saw $35 million in outflows last week, the largest outflow of any asset, according to the report. Options traders have also been upping their bets, expecting bitcoin to reach a record high of $80,000 by the end of November, regardless of who wins the U.S. election.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
BTC breaks above $69,000
ETH breaks through $2,500
Tyr Capital Chief Investment Officer: Bitcoin May See Selling Pressure After US Election
Bitcoin Traders Look at $70,000 Mark Again as Money Flows Into U.S. ETFs