The post Bitcoin Price Rebound: Halving Hype or Institutional Influence? appeared first on Coinpedia Fintech News
Bitcoin’s (BTC) price has shown early signs of recovering the crucial support level above $67,000 following Tuesday’s rebound. According to the latest market data, Bitcoin price edged 2 percent higher in the past 24 hours to trade around $66,300 on Tuesday during the early London session.
The flagship coin absorbed significant selling pressure from Grayscale’s GBTC, ARK 21Shares Bitcoin ETF (ARKB), and the US government.
According to spot BTC ETFs’ daily flow, GBTC and ARKB recorded an outflow of $82 million and $88 million, respectively on Monday.
Meanwhile, the United States government deposited more than $30k Bitcoins, worth around $2 billion, to Coinbase.
Did You Know : Fixed Float Exploited for $2.8 Million, Tether Freezes Hacker Addresses
Midterm Bitcoin Price Prediction
The fourth Bitcoin halving is about seventeen days from happening, histor
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