Bitcoin Price Hits $70,000 as Crypto Liquidations Top $235 Million
Bitcoin Soars to $70K: Is It Still a Safe Bet?
Bitcoin has surpassed the $70,000 mark for the first time since April, reaching $70,225, driven by a 6% increase over 24 hours and nearly $1 billion inflow into newly approved spot Bitcoin ETFs. This surge in investment follows a U.S. report indicating lower-than-expected inflation, prompting increased interest in cryptocurrencies as a hedge against low inflation. Concurrently, over $235 million in crypto positions were liquidated, with $63 million from Bitcoin short positions alone, as traders betting against the price faced losses.
What was the total amount of money that flowed into the newly approved spot Bitcoin ETFs following recent weeks of outflows?
The total amount of money that flowed into the newly approved spot Bitcoin ETFs following recent weeks of outflows was nearly $1 billion.
What was the price of Bitcoin when it surpassed the $70,000 mark recently?
Bitcoin recently surpassed the $70,000 mark, with its price reaching $70,225 per coin, according to data from CoinGecko. This marked the first time in more than a month that Bitcoin had crossed this price level, specifically since April 12. The increase to this price represented a 6% rise within a 24-hour period.