Key Points
Bitcoin enthusiasts appear to be shrugging off last weeks outflows from US exchange-traded funds, with the largest cryptocurrency climbing back above $70,000 again.s)..
Most digital assets were higher Monday, with Bitcoin gaining as much as 7.1% to $70,816..
Almost $900 million was pulled from those ETFs last week, reflecting continual outflows from the Grayscale Bitcoin Trust as well as a moderation in subscriptions for offerings from BlackRock Inc. and Fidelity Investment..
Even though ETF inflows have hit a drag, order books are loaded on the bid side around the 60k area, showing that the market is eager to buy the dip, said Nathanal Cohen, co-founder at digital-asset hedge fund INDIGO Fund..
However, the outsized outflows last week triggered more hedges among traders against lower prices as well as significant liquidations in the leveraged bullish bets in the crypto futures market..
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Bitcoin tops $70,000 again after slumping on US ETF outflows
26, Mar, 24Cryptocurrency News: On Monday, digital assets saw an increase in value, with Bitcoin rising by up to 7.1% to reach $70,816, marking its first climb above $70,000 in over