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Bitcoin Powers On

BTC breaks $47K on the heels of big ETF inflows.
David C David C Feb 9, 20241 min read
market analysis Bitcoin Powers On

Bitcoin doesn't want to stop. Early this morning, the OG crypto broke $47,000 again as ETF inflows showed Thursday emerging as a landmark day for spot ETFs, marking a significant milestone since their launch.

The price climb followed on the heels of a notable 9,260 BTC increase for spot ETFs in their net bitcoin holdings yesterday—equal to over $400 million in inflows, the highest since Jan. 17th. Bloomberg ETF’s James Seyffart notes this marks the 3rd biggest day for inflows so far.

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David C

Written by David C

154 Articles View all      

David is a writer/analyst at Bankless. Prior to joining Bankless, he worked for a series of early-stage crypto startups and on grants from the Ethereum, Solana, and Urbit Foundations. He graduated from Skidmore College in New York. He currently lives in the Midwest and enjoys NFTs, but no longer participates in them.

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