Bitcoin's price has risen by 3% in the last 24 hours, reaching $43,500, due to strong inflows into Bitcoin ETFs that have outpaced net outflows from the Grayscale Bitcoin Trust (GBTC). GBTC outflows have slowed down to under $200 million per day. On Monday, GBTC saw net outflows of $192 million, a 70% drop from $641 million over the last week. Fidelity's spot Bitcoin ETF recorded net inflows of $208 million, outpacing GBTC outflows. This surge in ETF inflows coincides with the broader crypto market's anticipation of the Federal Reserve's forthcoming decision on interest rates.
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Bitcoin Price Surges to $43,500 as BTC ETF Inflows Outpace Net Outflows
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