Bitcoin steadies above $84,000 as whales buy and inflation eases
Business
bitcoin is hanging out above $84,000 right now, with the price staying pretty steady despite a shaky market.
On Thursday, it was trading at about ₹80.8 lakh per coin.
This calm comes as big investors (the whales) keep buying, and softer inflation data has eased worries about an interest rate hike this month.
US spot ETF inflows lift Bitcoin
Even though bitcoin dipped just 0.3% in the last day, whales scooped up over 41,000 BTC in 10 days, helping offset a huge drop in speculative futures bets.
According to Giottus.com CEO Vikram Subburaj, inflows into US spot bitcoin ETFs are also giving prices a boost.
If BTC can break past $85,000, there could be more gains ahead as technical indicators still look bullish.