Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

Bitcoin price rose to an intra-day high of $50,000 on Feb. 12 for the first time since December 2021, following a streak of positive exchange-traded fund (ETF) inflows last week.&nbsp;
Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) rapidly rallied 3.25% from an intraday low of $47,745 on Feb. 12 to hit a two-year high at $50,000. The rally to a new two-year high was prefaced by a 16% gain over the past seven days.
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 <img src="https://s3.cointelegraph.com/uploads/2024-02/393cb6ff-adf2-4312-86c2-e321da0565e3.png" alt="" title="">
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 BTC/USD daily chart. Source: TradingView
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Bitcoin’s strong performance comes as the inflows into <a href="https://cointelegraph.com/magazine/bitcoin-etfs-see-high-volume-binance-delists-monero-and-ark-plans-staking-ether-hodlers-digest-feb-4-10/">spot Bitcoin ETFs have increased</a>&nbsp;over the past week. Last week,&nbsp;<a href="https://cointelegraph.com/learn/bitcoin-etfs-a-beginners-guide-to-exchange-traded-funds">spot Bitcoin ETFs </a>attracted over $1.1 billion in inflows as outflows from the Grayscale Bitcoin Trust continued to slow down. 
According to a Feb. 12 CoinShares <a href="https://blog.coinshares.com/volume-169-digital-asset-fund-flows-weekly-report-d8911da6dbe0" target="_blank" rel="noopener nofollow">report</a>, the “newly issued spot-based Bitcoin ETFs in the US [...] saw a net US$1.1bn inflows last week, bringing inflows since the January 11th launch to US$2.8bn.”
<blockquote class="twitter-tweet">
 Digital assets start the week with US$1.1bn inflows! AuM is at its highest level since early 2022, at US$59bn. – ETFs dynamics – The momentum of inflows into new issuers is not slowing down. Newly issued US spot-based Bitcoin ETF now total US$2.8bn inflows since their… <a href="https://t.co/kGqVU6jX62">pic.twitter.com/kGqVU6jX62</a>— CoinShares (@CoinSharesCo) <a href="https://twitter.com/CoinSharesCo/status/1757048545490641292?ref_src=twsrc%5Etfw">February 12, 2024</a>
</blockquote> 
Recent spot BTC ETF inflows and the <a href="https://cointelegraph.com/news/bitcoin-50k-shortly-btc-price-erases-etf-dip">uptick in Bitcoin’s price </a>bring the total assets under management to $59 billion, the highest since early 2022. 
Bitcoin last traded above $49,000 more than two years ago, on Dec. 28, 2021, when it reached a high of $50,720 before dropping toward a low of $15,522 on Nov. 9, 2022, following the FTX debacle. 
Related: <a href="https://cointelegraph.com/news/best-weekly-close-since-2021-5-things-bitcoin-this-week">Best weekly close since 2021 — 5 things to know in Bitcoin this week</a>
Independent trader and analyst Rekt Capital appeared not to be surprised by BTC’s rise above $49,000, adding, “The signs were there.”&nbsp;
<blockquote class="twitter-tweet">
 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> The signs were there<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/zKVaa9hUgC">https://t.co/zKVaa9hUgC</a> <a href="https://t.co/oEbNHc27F8">pic.twitter.com/oEbNHc27F8</a>— Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1757065964472909996?ref_src=twsrc%5Etfw">February 12, 2024</a>
</blockquote> 
The sudden rise of the Bitcoin price in the past few hours was followed by a spike in crypto market liquidations to the sum of over $152 million, with the tally still increasing at the time of publication, according to data from Coinglass. 
Bitcoin short position liquidations amounted to more than $45.56 million.
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 <img src="https://s3.cointelegraph.com/uploads/2024-02/f6e00069-c0f8-46da-9f67-a6bc836b8bf2.png" alt="" title="">
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 Total Bitcoin liquidations. Source: Coinglass
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This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin price rally to $50K puts spotlight on halving supply shortage and spot ETF inflow

Cointelegraph

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