Bitcoin’s price spiked after the US jobs report was dismal, suggesting that the Federal Reserve would be easing.
As interest in US Bitcoin ETFs grows internationally, Grayscale’s Bitcoin ETF sees inflows for the first time in 77 days.
Today, investors in Bitcoin (BTC) saw a sharp rise in the value of the cryptocurrency, which surged to $63,261.61—a 6.63% increase in only one day. Given that Bitcoin’s price also increased somewhat by 0.60% during the previous week, indicating a tentative reversal from the prior bearish trend, this bounce is very noteworthy.
The surprising increase followed the US non-farm payroll (NFP) data’s recent disappointment, which raised the possibility of a more dovish stance from the Federal Reserve. As US Bitcoin Exchange-Traded Fund (ETF) withdrawals reversed a seven-day trend, this news appeared to be the catalyst for an upward trend in investor confidence.
First Inflows with Grayscale Leads
By coincidence, the Grayscale Bitcoin ETF (GBTC), whic
