Bitcoin briefly touched 64K in the early morning yesterday, but then oscillated at high levels. Although it did not reach a new high before the deadline, it hovered around 61K. Overall, Bitcoin saw a nearly $20,000 increase in February, with a monthly increase of 44%, creating the longest candle in history!
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Bitcoin ETF remains hot, but Grayscale sees outflows of 600 million pounds
Top 10 market cap currencies performance
On February 28th, BlackRock’s single Bitcoin spot fund recorded a net inflow of $612 million. Fidelity’s FBTC alone had a net inflow of $245 million, which is more than the $216 million outflow from GBTC. Overall, there was a record net inflow of $673 million, the highest ever in a single day.
Although the trading volume on February 29th cooled down, it still reached a historic high. Bloomberg ETF analyst Eric Balchunas boldly predicts that the trading volume this week will exceed that of the first month! Could this be a new normal?
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However, Grayscale’s GBTC saw another outflow of $600 million yesterday, which may have been one of the sources of selling pressure.
Among the top 10 market cap currencies, Solana (SOL) performed the best yesterday, with a 8.7% increase, and has risen nearly 30% in a week. In addition, the original meme coin Dogecoin (DOGE) led a wave of meme coin increases, rising nearly 5% yesterday and astonishingly gaining 40% in a week.
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Meme coins surge, PEPE triples in a month, Andrew Kang emphasizes that DOGE is still undervalued
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BTC
Bitcoin
Bitcoin spot ETF
Further reading:
Kaiko analysis: Binance’s market share returns to 50% to welcome the golden cross; Ethereum spot ETF may not meet expectations
Foreign media: Harvest submits Hong Kong’s first Bitcoin spot ETF application, set to be listed after the Spring Festival.