Bitcoin Nears All-Time High on Renewed Institutional Demand

Bitcoin prices rallied into bullish territory fueled by a surge in spot Bitcoin ETF inflows and a 7% price increase over the past day. This positive movement comes on the heels of key US inflation data meeting expectations, easing investor concerns. On May 15th, spot Bitcoin ETF inflows in the US skyrocketed to a two-week […]

The post Bitcoin Nears All-Time High on Renewed Institutional Demand appeared first on Coin Edition.

Bitcoin Nears All-Time High on Renewed Institutional Demand

  • Spot Bitcoin ETF inflows surge to 2-week high of $303 million.
  • Bitcoin price jumps 7% to $66,567, near all-time high.
  • Hedge funds join the rally, with Millennium holding $2 billion in Bitcoin ETFs.

Bitcoin prices rallied into bullish territory fueled by a surge in spot Bitcoin ETF inflows and a 7% price increase over the past day. This positive movement comes on the heels of key US inflation data meeting expectations, easing investor concerns.

On May 15th, spot Bitcoin ETF inflows in the US skyrocketed to a two-week high of $303 million. This significant inflow reflects renewed institutional confidence in the cryptocurrency, mirroring the positive sentiment in the market.

Fidelity’s FBTC fund led the charge, attracting a record-breaking $131 million on the day, its highest since March 26th. Bitwise’s BITB fund wasn’t far behind, experien…

The post Bitcoin Nears All-Time High on Renewed Institutional Demand appeared first on Coin Edition.