Mostly thanks to boosted demand from the spot ETFs, bitcoin by mid-March had risen nearly 70% for 2024 to a new record above $73,000. The rally has stalled since, with the price now more than 15% below that all-time high. The reasons for the pullback are up for debate, but for the last month, sellers have overwhelmed a modestly slowed but still quick pace of buying by the ETFs.
Bitcoin (BTC) Bulls Should Pay Attention to Gold
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