Here's Why Bitcoin is Surging
Looking for some rationale behind this pump? Look no further.
Bitcoin kissed $64k this morning before dropping 8% in 15 minutes, wicking as low as $58.7k on Binance. Volatility in crypto markets is increasing, but all-time highs are within one strong daily candle away! Here’s why BTC surged today 👇
Wall Street’s demand for BTC remains unsatiated, with BlackRock’s IBIT taking in $520M in inflows yesterday, the largest haul for any BTC ETF ever and the second most of any ETF during trading yesterday!
Whoa.. $IBIT took in $520 million all by itself yest, biggest haul for a btc ETF ever and 2nd most of any ETF yesterday, only $IVV took in more cash.. it is now $8b in aum, top 5% among all ETFs. This means a good portion of that massive volume was new buying vs arb/algo. pic.twitter.com/tnq7SaN2di
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Jack Inabinet
Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.
