Coinspeaker
Bitcoin Breaks $68,000 Mark amid Record Inflows and ETF Momentum
Fueled by a surge in investment from exchange-traded funds (ETFs) and a potential change in US leadership, Bitcoin (BTC) surpassed the $68,000 resistance level on Sunday night, marking a significant milestone in the cryptocurrency’s ongoing rally.
Analysts attribute a substantial portion of this momentum to the relentless inflows into US Bitcoin ETFs. According to data from SoSoValues, BlackRock’s iShares Bitcoin Trust (IBIT) has amassed a staggering $19 billion in net inflows since its launch, and the trend shows no signs of slowing down.
“In total, the market has witnessed record net inflows exceeding $17 billion,” says Rachael Lucas, a crypto analyst at BTC Markets. “This reflects heightened institutional interest and confidence in Bitcoin as an asset class.”
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