Bitcoin traded either side of $91,000 after recovering from a dip to just above $89,000. BTC is 2% lower than its all-time high of $93,445, which it reached during the U.S. afternoon on Wednesday, but remains over 4% higher in the last 24 hours. Bitcoin ETFs recorded another $510 million of inflows Wednesday, taking the total for the last six days to $4.7 billion. “The Bitcoin ETFs are by far the majority driving force of bitcoin demand right now, soaking up almost all of the selling by Long-Term Holders. CME open interest is not growing meaningfully, reinforcing that this is a spot-driven rally,” analyst Checkmate said in a post on X.
Related posts
-
Spot Bitcoin ETFs Record a Staggering $8B in Daily Volume—Market Gripped by ETF Frenzy
U.S. spot bitcoin and ether exchange-traded funds posted another day of gains on Wednesday, with the... -
Bitcoin price base case for 2025 is $180,000, VanEck’s Sigel predicts
Bitcoin’s price continued its strong bullish trend this week, with many analysts believing that the rally... -
Legendary Brazilian Hedge Fund Manager Bets on Trump’s Allegiance to Bitcoin
Luis Stuhlberger, a legendary Brazilian hedge fund pioneer, disclosed that Verde, the firm he leads, built...