Bitcoin Surges Past $96,000 Amid Institutional Demand and Inflation Easing
- Bitcoin surged past $96,000, driven by renewed institutional demand and easing inflation concerns.
- U.S. spot Bitcoin ETFs saw $753.7 million in net inflows, with Fidelity’s FBTC leading at $351 million.
- The U.S. Consumer Price Index (CPI) report showed inflation steady at 2.7%, reducing fears of aggressive rate hikes.
- Short liquidations totaled over $290 million as Bitcoin’s price broke key resistance levels.
The sharp rise in Bitcoin‘s price was fueled by significant ETF inflows and stable inflation data, which eased concerns about further interest rate hikes by the Federal Reserve.
This rally marks a shift in market sentiment, with institutional investors re-entering the crypto space as broader markets also show positive trends. (Source)
