Bitcoin has extended gains to 5% today and touched $41,999.
The $2000 gain today is the first genuinely good day for bitcoin since the US ETFs were launched on January 11 and it touched $49,000. Since then the inflow numbers into bitcoin ETFs have been disappointing, particularly with large outflows from GBTC.
The daily chart is in an interesting spot and a close above $41,800 would paint something of a reversal.
daily bitcoin chart
The turn may be attracting new money into US ETFs with volume on Blackrock’s IBIT today at 11.86m at midday, exceeding yesterday’s total volume of 9.1m with nearly four hours of trading to go.
Reuters today Read More