Posted 2/27/2024, 2:55:19 AM
Bitcoin Soars Past $56K as Traders Clamor for Spot ETFs; Ethereum Hits 9-Month High
- Bitcoin price blasted past $56,000, yielding $157 million in liquidated shorts
- Comes after flirting with $55,000 much of the day and surging over $53,000 recently
- Driven by tradfi hunger for Bitcoin spot ETFs, which saw record inflows
- Top institutional holder MicroStrategy grew holdings to 193,000 BTC now worth $10.9 billion
- Good day for Ethereum too, with ETH price peaking at $3,273, last seen in April 2022