Bitcoin Hits New All-Time High with $636 Million Inflow
Bitcoin started the week on a high note, experiencing a significant $636 million inflow and reaching a new all-time high of $107,700 on Dec. 16. This latest milestone comes after a period of consolidation around the $100,000 level in recent weeks.
Spot Bitcoin ETFs Drive Market Activity
Monday’s market activity was heavily influenced by spot Bitcoin ETFs, which saw a combined inflow of $636.9 million. Leading the pack was BlackRock’s IBIT with $418.2 million, followed by Fidelity’s FBTC at $116.1 million and Bitwise’s BITB at $30.7 million. ARK Invest’s ARKB also saw significant inflows at $47.7 million, while Grayscale’s GBTC contributed $17.6 million. Notably, no funds reported any outflows.
Bitcoin’s Continued Upward Trajectory
The surge in Bitcoin’s price highlights its ongoing upward trajectory, driven by increasing institutional adoption and strong demand for spot ETFs. Since surpassing the $100,000 mark on Dec. 5, Bitcoin has maintained strong market momentum, staying within 10% of its all-time high.
Current Price and Market Outlook
As of the latest report, Bitcoin is trading near $107,000, showcasing resilience and bullish sentiment in the market.
Liam ‘Akiba’ Wright
Also known as “Akiba,” Liam Wright is a reporter, podcast producer, and Editor-in-Chief at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.
