May 21, 2024

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Bitcoin (BTC) price approaches $65,000 amid strong cryptocurrency recovery

Bitcoin (BTC) price approaches $65,000 amid strong cryptocurrency recovery

Bitcoin is trading at around $64,000 early Monday as the cryptocurrency market erased last week’s losses. Bitcoin rose to $65,400 during Asian trading hours on Monday, its highest price in nearly two weeks, and is now up about 15% from last week’s corrective bottom. Bitcoin’s quick recovery to a bullish weekly close “raises the possibility that the next higher low may already be in place before the next major bullish extension to a new record high,” Joel Krueger, market strategist at LMAX Group, said in a report released Monday. ) followed suit, with SOL, AVAX and NEAR advancing 4%-5% over the past 24 hours. The broader cryptocurrency market rose 3.2% in the past 24 hours according to measurements CoinDesk 20 Index (CD20).

Grayscale Bitcoin ETFs It experienced its first daily flow After bleeding billions in assets. Grayscale Bitcoin Trust (GBTC), the largest bitcoin ETF by assets, saw $63 million in new money from investors on Friday, ending nearly 4 months of daily outflows since it converted to a spot ETF structure in January, it said. Data was collected by Investors appear in Farside. US-listed spot ETFs also had their best day in over a week, attracting $368 million in inflows, showing a positive shift in sentiment as Bitcoin rebounds.

Bitfinex security breach was dismissed by CTO Paolo Ardoino as “forged“. The controversy arose over the weekend after a group of hackers leaked a database of purported usernames and passwords of more than 22,000 users of the Bitfinex exchange. But arduino refute She pointed out these claims and pointed out the inconsistencies, saying that the company does not store two-factor authentication data as “cleartext” and that the information was likely recycled from previous data thefts unrelated to Bitfinex.

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