2023-10-24 00:58:38
Early this morning, Bitcoin once reached $34,700, and ETH stood at $1,800. Market suspicion may be due to the judgment of Bloomberg analysts that the BlackRock Bitcoin Spot ETF may have been approved by the SEC.
(Previous summary: Awakened following 8 years of sleep! Ethereum’s “ICO Creation Whale” transferred 2,000 ETH and made a huge profit of 5,177 times)
(Background supplement: In the future, Bitcoin and Ethereum may have nothing to do with most ordinary people?)
At around 06:30 in the morning on the 24th, Bitcoin suddenly jumped from around 32,000 to over 2,000 US dollars! It once reached US$34,741, and the price of Ethereum (ETH) also reached a maximum of US$1,800 at regarding the same time, a quite dramatic increase.
Bloomberg Analyst: BlackRock’s spot ETF approval is a positive sign
As for the reason for Bitcoin’s sudden surge, the community speculates that it is likely to be related to the good news coming out of the Bitcoin spot ETF.
Just a few hours ago, Bloomberg ETF analyst Eric Balchunas posted that asset management giant BlackRock’s iShares Bitcoin Spot ETF has been listed on the Depository Trust and Clearing Corporation (DTCC) with the stock code IBTC. Eric further analyzed:
They (BlackRock) either got the green light from the SEC to go public, or they just wanted to get everything ready.
We still believe that multiple ETF issuers will be approved simultaneously…
BlackRock had not commented on the matter as of press time.
The iShares Bitcoin Trust has been listed on the DTCC (Depository Trust & Clearing Corporation, which clears NASDAQ trades). And the ticker will be $IBTC. Again all part of the process of bringing ETF to market.. h/t @martypartymusic pic.twitter.com/8PQP3h2yW0
— Eric Balchunas (@EricBalchunas) October 23, 2023
Bitcoin ETF sees $43 million in inflow today
Although we cannot clearly know whether the BlackRock ETF has actually been approved by the SEC, what is certain is that market funds have been pouring into the Bitcoin market in recent days.
According to the latest data released by Bitcoin News in the early morning, the Bitcoin ETF fund had an inflow of up to 43 million US dollars today, equivalent to 10% of the total inflow so far this year. It can be seen that the smart money in the market may have obtained some clues.
In any case, the current market is highly volatile, so please invest with caution.
JUST IN: Public #Bitcoin ETF funds received a remarkable $43 million inflow today, equivalent to 10% of the year-to-date total – all within a single day! pic.twitter.com/5ff0V1Y3kb
— Bitcoin News (@BitcoinNewsCom) October 23, 2023
In the past 24 hours, the entire network liquidated 350 million U.S. dollars
Another reason for the rise in Bitcoin may be that short sellers were squeezed due to a sudden market trend.
Coinglass data shows that as many as 84,482 investors were liquidated in the past 24 hours. Bitcoin liquidation exceeded US$190 million, and Ethereum liquidation exceeded US$51.2 million… The entire network liquidated more than US$350 million, of which the Air Force accounted for regarding 275 million US dollars. One hundred million U.S. dollars.
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