- Bitcoin (BTC) price surges to above $71k again as spot Bitcoin ETFs record $15 million in net inflows.
- Stacks (STX) reached a new all-time high of $3.80 and analysts are bullish on its potential.
- New NFT and game project Bitcoin Dogs (0DOG) nears market launch; it captivated the community with its first-ever ICO on Bitcoin.
Bitcoin has soared to above $71,000 again as spot BTC ETFs see net inflows for the first time in nearly a week.
Meanwhile, analysts are bullish on Bitcoin L2 project Stacks (STX), which hit a new all-time high as BTC broke above $71k. There’s also great anticipation around Bitcoin Dogs (0DOG), a new project whose ICO on Bitcoin attracted over $13.4 million.
Bitcoin price surges as spot ETFs see net inflows
The spot Bitcoin ETFs market has witnessed a flip in flows following a streak of net outflows.
On Monday, March 25, the spot Bitcoin ETFs market recorded net inflows of over $15 million, the first positive return for the US-listed ETFs that had extended their net outflows to a five-day streak.
While Grayscale’s GBTC continued to see outflows, recording over $350 million on the day, the rest of the ETFs turned green. Fidelity’s FBTC beat BlackRock’s IBIT to the top of single day net inflows on the day with approximately $261 million compared to $35.48 million.
The turnaround came as Bitcoin’s price raced to above $70,000. Incidentally, BTC has dropped to lows of $60,000 last week as net outflows increased, with over $836 million in outflows recorded in the week to March 21.
Stacks (STX) reached a new all-time high
With Bitcoin price retesting levels above $71,000, the market optimism is back as greed & fear index returns to extreme greed levels.
Analysts say altcoins will take up fresh bids and could explode in coming weeks.
Muneeb Ali, the CEO of Trust Machines and co-creator of Bitcoin L2 protocol Stacks, says this could be the wrong time to bet against Bitcoin. Muneeb shared the opinion via a post on X, pointing to events surrounding the highly anticipated BTC halving.
Three events around Bitcoin halving:
1) Bitcoin’s daily supply drops by 50%
2) Runes, assets on Bitcoin L1, launch
3) Stacks Nakamoto L2 instantiationAnd you’re bearish on Bitcoin, anon?
— muneeb.btc (@muneeb) March 26, 2024
As Bitcoin soared above $71k on Monday, Stacks (STX) price jumped to a new all-time high of $3.80.
The…