Bitcoin Price Hits New Highs as Inflows into ETFs Continue

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The price of bitcoin reaches new all-time highs as inflows into U.S. spot bitcoin ETFs drive the cryptocurrency's price action. Crypto investment products see record inflows, while heightened leverage leads to significant price swings. Ethereum network's upcoming tech upgrade also draws investor attention.

The price of the flagship cryptocurrency was last higher by 3% at $72,022.16, according to Coin Metrics. Earlier, it reached an all-time high of $72,750.16. Last week, bitcoin hit new records in volatile trading for the first time since 2021, before more subdued trading over the weekend.Inflows into U.S. spot bitcoin ETFs continue to drive the cryptocurrency's price action. Last week, crypto investment products saw record inflows totaling $2.7 billion, according to CoinShares.

That put the year-to-date total at $10.3 billion, just off the record of $10.6 billion for all of 2021. At the same time, heightened leverage in the crypto market has led to the biggest price swings in nearly a year, with funding rates at their highest levels since January 2021 and bitcoin open interest at all-time highs.broke $4,000 for the first time since December 2021, lifted in part by bitcoin. It was last higher by 3% at $4,034.00. Investors were also looking ahead to the Ethereum network's next big tech upgrade, dubbed "Dencun," this wee

Source: News Formal (newsformal.com)

Bitcoin Cryptocurrency Price All-Time High Inflows Etfs Investment Leverage Price Swings Ethereum Tech Upgrade

 

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