The rally continued Wednesday as the spot ETFs continued to see massive inflows of fresh money.
The price of bitcoin (BTC) rose above $60,000 during morning U.S. trading hours on Wednesday, it’s first time above that level since November 2021.
This week’s rally appears to have been driven by huge inflows into the U.S.-based spot ETFs, with the new funds adding more than another 12,000 bitcoin on Tuesday after adding about 10,000 on Monday.
At press time, bitcoin was trading at $60,200 up about 6% over the past 24 hours. The broader CoinDesk was ahead about 3% over the same time period.
With the $60,000 level out of the way, bitcoin bulls might have their next sight on the crypto’s all time high of $69,045 set Nov. 10, 2021.
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