Bitcoin Surges Past $96,000 Amid Strong ETF Inflows
- Bitcoin price reached a year-high of over $96,000, marking a cumulative increase of 5% within a single day.
- U.S. spot BTC ETFs recorded net inflows exceeding $750 million in one trading day.
- Fidelity’s FBTC and Bitwise’s BITB led the inflow trend with totals of over $12 billion and nearly $160 million, respectively.
- The Consumer Price Index (CPI) for December was reported at an annual rate of 2.7%, easing inflation concerns.
- In the last day, the crypto market experienced approximately $688 million in liquidations of short positions.
The recent surge in Bitcoin’s price is attributed to strong institutional demand through ETFs, alongside stable inflation figures that have reduced market anxiety. The combination of these factors has created significant upward momentum for Bitcoin.
With Bitcoin reaching above $96,000 and significant ETF inflows reported, the market dynamics are shifting rapidly as demand continues to outpace supply.(Source)
