Crypto Market Analysis | 17 July 2024

Market Analysis

Bitcoin reclaimed the $65k level. Even the news of Mt Gox moving 91,755 BTC worth $5.8 billion could not deeply impact the current relief rally in BTC.

Spot bitcoin ETFs have attracted over $16 billion of inflows since their launch in January, with $300 million added early this week alone. The funds, led by BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund, have seen consistent inflows even as bitcoin prices fluctuated, indicating strong investor demand for regulated bitcoin exposure.

The top mover of the day remained Worldcoin’s WLD (+20%).

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered investment/financial advice from CoinSwitch. Any action taken upon the information shall be at the user’s risk.

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