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Crypto

Bitcoin Surges as Institutional Demand and Macro Sentiment Improve

Guavy AI Editorial Team
Instruments
BTC
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Bitcoin started August 6 on solid ground, up 0.82% in the last day and trading at $64,808.

The influx of institutional money into spot Bitcoin ETFs has been a major driver behind this increase, with BlackRock's IBIT pulling in over $170 million of the $211 million in total daily inflows.

This trend is also reflected in the macro picture, as Bitcoin tracks the Dow Jones closely, with about 58% correlation.

However, a security flaw in Coldcard's firmware has been exploited, resulting in hackers stealing at least 1,816 BTC worth around $114 million from over 5,200 addresses.

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