Bitcoin (BTC) closed above the $48,000 barrier for the second time in 23 months on Sunday, marking a return to form for the world’s largest cryptocurrency.
The BTC/USD pair continued to rocket higher today, and was within touching distance of $49,000 in mid-afternoon trades.
Bitcoin is now up nearly 15% week on week, a sharp u-turn from its surprisingly poor post-ETF approval performance.
One month after the US Securities and Exchange Commission (SEC) gave the nod to bitcoin-linked exchange-traded funds, the spot markets finally appear to be moving in the anticipated direction.
Ark Invest’s ARKB ETF became the latest bitcoin ETF to net more than $1 billion in assets under management, joining BlackRock’s iShare Bitcoin ETF (IBIT), the Fidelity Wise Origin Bitcoin Fund (FBTC) and the Grayscale Bitcoin Trust (GBTC).
$ARKB has crossed $1B+ USD in bitcoin holdings! This isn’t just a number – it’s a testament to the…
