Bitcoin (BTC) trades slightly up at the time of writing on Wednesday, rising by 0.14% at $65,158 after closing above the daily resistance level of $64,913 the day before. On-chain data indicates that BTC is undervalued, and US spot Bitcoin ETFs recorded inflows totaling $422.50 million on Tuesday. According to Tree News, Kraken notified Mt. Gox creditors that it had received its share of the funds, while Hermetica, a Bitcoin DeFi protocol, launched its BTC-backed USDH on Bitcoin’s L1 using the Runes protocol.
Crypto market capitalization increased nearly 4% in the last 24 hours and climbed to $2.522 trillion on Wednesday, as seen on CoinGecko. Almost all cryptocurrencies ranked in the top 10 assets by market capitalization have rallied in that period.
The crypto market is recovering faster than it was falling, adding another 2.4% in 24 hours to $2.4 trillion. Bitcoin has rallied 15% since Saturday,…
