climbed above $61,400 early Tuesday, driven by strong inflows into U.S.-spot ETFs, which recorded their second-highest inflow in August.
Bitcoin ETFs saw net inflows of over $61 million, the highest since the $192 million inflow on August 8. BlackRock’s iShares Bitcoin Trust (NASDAQ🙂 led the charge with $92 million in inflows, while Bitwise’s Bitcoin ETF (NYSE:) attracted $25 million in outflows.Â
Ether prices also jumped by as much as 4% as investors looked for possible signals of upcoming rate cuts from the Federal Reserve later this week.Â
With a relatively light economic data calendar, market attention has turned to the release of the Fed’s July meeting minutes on Wednesday and Fed Chair Jerome Powell’s speech at the Jackson Hole Symposium on Friday.
“Despite FUD in the media – It doesn’t matter whether the ETF elections or any other FOMO theory which will come up; all this is only storytelling…
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