Bitcoin hits $64,200 on ETF interest and Fed pause hopes
bitcoin climbed to $64,200 (about ₹61.4 lakh) on Tuesday, thanks to growing interest in US spot bitcoin ETFs and hopes that the Fed won't hike interest rates soon.
Still, more bitcoins are sitting on exchanges, now at 1.33 million bitcoins, which could mean some holders are getting ready to sell.
Meanwhile, ether is hovering around $1,900 (₹1.8 lakh), showing a less exciting performance.
US spot ETFs record ₹3,731cr outflows
Even with early excitement for bitcoin ETFs, last week saw $390 million (₹3,731 crore) flow out of them, a sign that investors aren't fully convinced yet.
Ongoing geopolitical tensions and high exchange balances keep nerves high in the market.
Analysts say bitcoin needs to hold above $64,000 and break past $65,000 for a real comeback.
Altcoins like Binance Coin ($604.34) and Solana ($75.91) are also seeing selective action as everyone waits for clearer signals in the crypto world.