Bitcoin Breaks $73,000 Mark, Reaching 4 New Highs In Less Than A Week
Portfolio Pulse from Murtuza Merchant
Bitcoin reached a new peak of $73,709, marking its fourth high in six days, driven by a surge in investments into U.S.-based Bitcoin ETFs, with a record $1.05 billion inflow on March 12. Blackrock's IBIT captured $849 million of this. Ether also rose 3.3% to $4,083, up 75% since the year's start. The Ethereum ecosystem anticipates cost reductions from the Dencun software update, benefiting Layer-2 networks like Arbitrum, Polygon, and Coinbase's Base.
March 13, 2024 | 2:23 pm
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Blackrock's IBIT ETF captured a record $849 million inflow amid a surge in Bitcoin investments.
The significant inflow into Blackrock's IBIT ETF, as part of the broader surge in Bitcoin investments, indicates strong investor interest and confidence in this product. This could lead to increased demand for IBIT shares in the short term, potentially driving up its price.
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