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Home ยป Breaking News: Bitcoin Surges Past the $50,000 Milestone, Reaching Price Highs from 2 Years Ago
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Breaking News: Bitcoin Surges Past the $50,000 Milestone, Reaching Price Highs from 2 Years Ago

Feb. 13, 20242 Mins Read
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Breaking News: Bitcoin Surges Past the $50,000 Milestone, Reaching Price Highs from 2 Years Ago
Breaking News: Bitcoin Surges Past the $50,000 Milestone, Reaching Price Highs from 2 Years Ago
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Bitcoin BTC spot price broke through the $50,000 mark in the early morning of the 13th, surpassing the highest price when the spot ETF was approved. On the night of the 12th, Bitcoin surged from around $48,800, with investors buying in large quantities. Within one hour, it rapidly increased by over $1,000, breaking through the $50,000 mark. The last time Bitcoin reached $50,000 was on Christmas Day, December 25, 2021.

According to Binance data, at around 1 am Taiwan time, it broke through $50,000 and reached $50,154 before the deadline.

Grayscale’s GBTC saw a net outflow of $51.81 million on the last trading day of the week, setting a new record low for daily net outflows. On the other hand, the other 9 Bitcoin ETFs, excluding Grayscale, saw a total net inflow of $592 million.

The Bitcoin spot ETF with the highest daily net inflow is IBIT from BlackRock, with a net inflow of $250 million, accounting for 42.2% of the total daily inflow. The second is FBTC from Fidelity, with a net inflow of approximately $188 million, accounting for 31.7% of the total inflow.

The decrease in selling pressure from Grayscale indirectly led to optimistic market participation in Bitcoin, resulting in the breakthrough of the $50,000 mark.

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