Bitcoin Back Over $50K With ETF Flows; El Salvador's Bukele Reelected But Crypto Stumbles
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Bitcoin topped $50,000 on Monday for the first time in over 2 years, aided by spot bitcoin ETF inflows and optimism around the upcoming halving event.
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Spot bitcoin ETFs saw their second-largest inflow day ever on Friday, with over $540 million flowing in, despite outflows from Grayscale's fund.
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A Grayscale report suggested the bitcoin halving may not be all negative for miners due to innovations like ordinal inscriptions and Layer 2 projects.
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El Salvador's pro-bitcoin President Bukele was re-elected by a landslide, though his grander crypto plans have seen limited momentum.
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The Solana network halted temporarily last week due to a bug, drawing criticism over its level of centralization.