Bitcoin prices recovered past the $40,100 mark on Jan. 24, 2024 amidst continued inflows and outflows involving various spot Bitcoin ETFs. <\/p>\n
Bitcoin (BTC) was up nearly 1% over the 24 hours ending at 11:55 p.m. UTC. on Wednesday, reporting a price of $40,143 and a market cap of $786 billion. During an earlier period that lasted about five hours, Bitcoin was worth less than $40,000, and it briefly fell as low as $39,563 at 9:00 pm. <\/p>\n
The crypto market in its entirety is up 1.8% over 24 hours. Other leading assets have also seen gains: Solana (SOL) is up 5.8%, Dogecoin (DOGE) is up 1.2%, Avalanche (AVAX) is up 2.2%, and XRP is up 0.1%. Meanwhile, Ethereum (ETH) is down 0.2%, BNB is down 1.7%, and Cardano (ADA) has seen no change. <\/p>\n
The market saw 37,063 trader liquidations worth $105.6 million in the 24 hour-period ending at 11:40 p.m., according to Coinglass. Of those liquidations, $39.11 million involved Bitcoin (BTC) and $23.75 million involved Ethereum (ETH). <\/p>\n
CryptoSlate Insights found that that GBTC outflows moved 19,236 BTC out of the fund on Jan. 23, an amount valued at more than $754 million. <\/p>\n
GBTC outflows offset inflows into various other spot Bitcoin ETFs, a trend best seen in long-term data. Bloomberg ETF analyst James Seyffart reported that as of Jan. 23, GBTC has experienced $3.96 billion in cumulative outflows over 8 days, while other funds have seen $4.95 billion in inflows over the same period. This reduces overall spot Bitcoin inflows to just $982.9 million. <\/p>\n
Any Bitcoin that enters and remains on the market is expected to increase the supply available to investors, thereby reducing prices. <\/p>\n
Investor sentiment resulting from fading hype around spot Bitcoin ETFs may also impact prices alongside other developments. <\/p>\n
At the time of press, Bitcoin is ranked #1 by market cap and the BTC price is up 0.74% over the past 24 hours. BTC has a market capitalization of $785.67 billion with a 24-hour trading volume of $22.06 billion. Learn more about BTC <\/p>\n
BTCUSD Chart by TradingView <\/p>\n
At the time of press, the global cryptocurrency market is valued at at $1.56 trillion with a 24-hour volume of $52.93 billion. Bitcoin dominance is currently at 50.30%. Learn more <\/p>\n
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Read the original: Bitcoin prices recovered past the $40,100 mark on Jan. 24, 2024 amidst continued inflows and outflows involving various spot Bitcoin ETFs. Bitcoin (BTC) was up nearly 1% over the 24 hours ending at 11:55 p.m Continue reading
\nBitcoin recovers above $40k amidst GBTC outflows, other ETF inflows - CryptoSlate<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"