Bitcoin drops to $62,038 as risk-off moves hit crypto markets
Business
Bitcoin dropped to $62,038 on Thursday after news broke that the U.S.-Iran cease-fire was over and Japan's bond yields hit a 30-year high.
This spooked investors, causing a wave of risk-off moves: Ethereum slid 1% to $1,733 and big altcoins like BNB, XRP, Solana, and Cardano lost up to 3%.
Spot Bitcoin ETFs net $143 million inflows
Even with all the market jitters, spot Bitcoin ETFs pulled in $143 million in net inflows, helping steady things a bit.
Ethereum ETFs also saw around $26.9 million come in.
Analysts say long-term holders grabbed another 50,000 to 100,000 Bitcoin while prices hovered near the key $60,000 support zone.