Finst

Bitcoin makes another breakout attempt and touches $68,000

Bitcoin started Friday on a positive note and briefly topped the $68,000 mark overnight.

By Mike Hesp
• 2 min read
Bitcoin makes another breakout attempt and touches $68,000

Bitcoin started Friday on a positive note and briefly peaked above the $68,000 mark overnight. At the time of writing, BTC was trading just below this level, around $67,867.

Part of the reason for this new breakout attempt appears to be the steady inflow into Bitcoin spot ETFs. On October 17, more than $473 million flowed in, according to data from Farside Investors.

Most of this inflow went to BlackRock's ETF (IBIT), with $309 million. Surprisingly, Cathie Wood's Ark Invest ETF (ARKB) was in second place, with $100 million.

View post on X

In the last five days, more than $2.1 billion has flowed into Bitcoin ETFs. According to ETF expert Nate Geraci, that’s more than what physical gold ETFs could pull in for an entire year.

Meanwhile, the world’s fifth-largest bank, Morgan Stanley, is said to have expanded its Bitcoin ETF positions. According to various reports, the bank, which manages $1.3 trillion, now holds $272 million in Bitcoin products.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.