Bitcoin Hits $86,000 Putting ETF Investors Back in Profit After $86 Billion Wipeout
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The largest cryptocurrency reaches peaks of eight months while the fall of oil, the influx of money into ETFs and the forced closure of bearish positions restore the appetite for risk to markets.
CryptoSlate
Cryptocurrency News | Cryptocurrency Prices | Market CapBitcoin hits $86,000 putting ETF investors back in profit after $86 billion wipeout
Bitcoin’s rally toward $86,000 has pushed US spot exchange-traded fund (ETF) investors back into profit after months underwater. Data from CryptoSlate showed Bitcoin gained about 6% over the past 24 hours, extending its September rebound and briefly trading near $86,000. Bloomberg Intelligence ETF analyst James Seyffart said the move put the average US Bitcoin ETF […]
ChainCatcher reports that on-chain data analytics platform Glassnode stated that as Bitcoin reached $86,000, long leverage in the options market is slowly rebuilding, and the open interest put/call ratio is rising. However, this is still far below the overheated levels seen near Bitcoin's peak. Perpetual contract speculation also remains subdued, with funding rates below neutral levels.
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