Summary
Bitcoin, the largest cryptocurrency, saw a 10% increase in value in just one week, outperforming the CoinDesk20 Index. This rise comes after Bitcoin’s continuous upward trend since late January. Additionally, there has been a significant increase in investments into U.S. bitcoin exchange-traded funds, with BlackRock’s IBIT acquiring over 28,000 bitcoin this week.
Key Points
1. Bitcoin’s market cap has experienced a 10% rally in just one week, surpassing the overall performance of the CoinDesk20 Index.
2. The cryptocurrency has shown a relentless rise from $38,500 since late January, indicating its continued upward trajectory.
3. Additionally, there has been a significant increase in inflows into U.S. spot bitcoin exchange-traded funds, with BlackRock’s IBIT acquiring over 28,000 bitcoin during this week.