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Crypto

Bitcoin Surges Past $65k as ETF Inflows Soar and Exchange Balances Plummet

Guavy AI Editorial Team
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BTC
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The price of Bitcoin (BTC) surged to $65,050 in recent trading, marking a 3.6% increase and keeping it above its 200-week moving average.

This rise was accompanied by significant inflows into BTC-related exchange-traded funds (ETFs), with a total of $865.3 million flowing into these funds over the past week, approximately 80% of which went to BlackRock's iShares Bitcoin Trust.

In contrast, exchange balances have dropped to a seven-year low, while long-term supply has reached an all-time high.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment advisor. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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