Bitcoin’s price continues increasing and is currently trading at around $51,500. This marks a massive surge of over 3% in the past hour and some 20% in the past week.
The move comes after the price went into massive volatility yesterday, tumbling toward $48K and leaving more than $200 million worth of liquidated positions.
While this turbulence showcases the heightened risks of using high leverage, it’s important to take a closer look at a few of the reasons that might have caused Bitcoin’s price to increase above $50K today.
Bitcoin ETF Flows Soar
The approval of a spot Bitcoin ETF by the United States Securities and Exchange Commission (SEC) was a landmark achievement for the entire cryptocurrency industry. It took place earlier in January and was followed by a significant sell-the-news situation where Bitcoin’s price tumbled by more than 20% in the days that followed.
However, the longer-term impact of a spot Bitcoin ETF might as well be starting to show as the flows into th
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