The post Bitcoin Price Rises 5% Amid Increasing ETF Trading Volume as Green Bitcoin ICO Hits $8.5M appeared first on Coinpedia Fintech News
Bitcoin is displaying bullish momentum as its price bounces 5% today, currently trading at $67.4K.
Meanwhile, the new ICO cryptocurrency Green Bitcoin is also surging ahead, recently surpassing the $8.6 million mark at presale.
BTC Price Pumps as Analysts Anticipate $85K and ETF Demand Uptick
In recent weeks, Bitcoin’s price has been primarily driven by unprecedented trading volume from spot ETFs.
After peaking at highs of $74K in mid-March, Bitcoin underwent a selloff, which coincided with net outflows across the ETF market.
However, having found support between $62K and $63K, bulls have absorbed the ETF outflows as Bitcoin’s price pushes beyond $67K.
At the time of writing, Monday’s trading session on the U.S. stock market has yet to begin, but analyst Mister Crypto alludes that ETFs will start accumulating BTC again soon.
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