Derived from Insidebitcoins, Bitcoin's price surged 7% in the last 24 hours, reaching $92,844, driven by the 'Vanguard Effect' and multi-day inflows into Bitcoin ETFs. Vanguard recently lifted its ban on Bitcoin ETF trading, allowing millions of conservative investors to access the market. Bloomberg analyst Eric Balchunas noted a 6% jump in BTC immediately after the US market opened on the first day of trading. BlackRock’s IBIT ETF saw $1 billion in trading volume within the first 30 minutes. ETF inflows have returned after November’s $4.3 billion in redemptions, with funds like IBIT and FBTC seeing renewed interest. Analysts suggest that ETF inflows could support BTC’s attempt to reclaim the $100,000 level.
Bitcoin Surges 7% Amid 'Vanguard Effect' and ETF Inflows
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