Bitcoin
Why Bitcoin is up 1.9% in the last hour
Analysis
Bitcoin rose 1.9% over the past hour as traders reacted to ETF-flow headlines, including U.Today’s report on BlackRock selling $257 million worth of Bitcoin and Ethereum, which likely prompted repositioning and short-term volatility. Broader market context also remained in focus after CryptoPotato highlighted Binance buying $1B in Bitcoin and softer-than-expected US inflation, supporting near-term risk appetite despite recent choppiness.
Contributing Factors (3)
Shiba Inu Open Interest Surges Against Bitcoin and XRP
Shiba Inu moves against broad futures market trend that saw Bitcoin, XRP and other leading cryptocurrencies record notable declines in open interest.
$257 Million in Bitcoin and Ethereum Sold by BlackRock
BlackRock has sent another $257 million in BTC and ETH to Coinbase amid market rebound.
Binance Buys $1B in Bitcoin, US Inflation Lower-Than-Expected, but BTC Price Still Suffers: Weekly Crypto Recap
Bitcoin traded mostly sideways in the past week, but every breakout attempt was halted in its tracks.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.