Bitcoin Nears All-Time High Amidst Record ETF Inflows and Bullish Market Sentiment
1. Record Bitcoin ETF Inflows Drive Market Optimism
Bitcoin ( BTC ) is currently experiencing unprecedented inflows into U.S.-based spot ETFs, which have now reached a cumulative $22 billion. This trend reflects the surge in institutional demand, with a recent four-day streak adding $479 million alone. These inflows have boosted BTC’s price to a recent high of $71,500, positioning it just below its all-time high and fueling expectations of further gains if bullish sentiment holds steady. Analysts view the sustained inflows as a foundation for potential record-breaking prices before the year’s end, particularly as BTC remains the preferred asset among institutional and retail investors​ ( InsideBitcoins.com ), ( Cointelegraph ).
2. Bhutan Shifts Bitcoin Holdings to Binance Amid Price Rally
In a notable move, Bhutan recently transferred approximately $66 million in BTC to Binance, underscoring the kingdom’s active management of its cryptocurrency holdings as BTC reached the $71k threshold. Bhutan holds over $886 million worth of Bitcoin, equivalent to nearly 27% of its GDP. This strategic approach highlights the asset’s global appeal and growing role as a financial hedge, with Bhutan’s holdings expected to support economic policies amid increasing BTC demand worldwide​ ( Invezz ).
Read More: https://onthenode.com/cryptocurrency/bitcoin-nears-all-time-high-amidst-record-etf-inflows-and-bullish-market-sentiment
1. Record Bitcoin ETF Inflows Drive Market Optimism
Bitcoin ( BTC ) is currently experiencing unprecedented inflows into U.S.-based spot ETFs, which have now reached a cumulative $22 billion. This trend reflects the surge in institutional demand, with a recent four-day streak adding $479 million alone. These inflows have boosted BTC’s price to a recent high of $71,500, positioning it just below its all-time high and fueling expectations of further gains if bullish sentiment holds steady. Analysts view the sustained inflows as a foundation for potential record-breaking prices before the year’s end, particularly as BTC remains the preferred asset among institutional and retail investors​ ( InsideBitcoins.com ), ( Cointelegraph ).
2. Bhutan Shifts Bitcoin Holdings to Binance Amid Price Rally
In a notable move, Bhutan recently transferred approximately $66 million in BTC to Binance, underscoring the kingdom’s active management of its cryptocurrency holdings as BTC reached the $71k threshold. Bhutan holds over $886 million worth of Bitcoin, equivalent to nearly 27% of its GDP. This strategic approach highlights the asset’s global appeal and growing role as a financial hedge, with Bhutan’s holdings expected to support economic policies amid increasing BTC demand worldwide​ ( Invezz ).
Read More: https://onthenode.com/cryptocurrency/bitcoin-nears-all-time-high-amidst-record-etf-inflows-and-bullish-market-sentiment
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