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Why Bitcoin Cash Is Popping Off
Why Bitcoin Cash Is Popping Off
About this update from Banco De Chile
Bitcoin Cash is trading higher by 6.8% to $565.51 Thursday afternoon. Shares of several altcoins are rising during Thursday’s session amid strength in as the apex crypto trades past the $70,000-level.Bitcoin has in large part rallied in recent weeks due to rising demand after spot bitcoin ETFs were approved in January. However, these ETFs saw significant outflows last week, leading to a sell-off in crypto-related stocks. The market then rebounded after the Federal Reserve made dovish remarks.See Also: What's Going On With Crypto?On March 27, Bitcoin spot ETFs saw a significant influx of $243 million in investments. This coincides with preparations for the Benzinga Future of Digital Assets conference on Nov. 19. BlackRock’s iShares Bitcoin Trust experienced a notable single-day inflow of $323 million, reflecting increasing confidence in Bitcoin. This follows BlackRock CEO Larry Fink’s positive outlook on Bitcoin, hinting at a changing attitude towards cryptocurrencies in traditional finance...© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.