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Crypto

ETF Inflows Fuel Bitcoin Price Surge Ahead of NFP

Guavy AI Editorial Team
Instruments
BTC NFP
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Bitcoin's price has been rising as investors focus on the significant inflows into US spot Bitcoin ETFs. These funds experienced their best day since January, with a total of $730.89 million in assets added on Thursday.

This surge in demand comes ahead of the release of the latest nonfarm payrolls data by the US, which is expected to have an impact on expectations for the Federal Reserve's policy meeting later this month.

The Bitcoin price reached a high of $82,164 before retreating, and technical analysis suggests that there may be more upside ahead. The coin has formed a golden cross pattern and a bullish flag pattern, which often lead to further gains.

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