Bitcoin Price Prediction: BTC Reaches ETF Highs of January
Bitcoin’s price is on the rise, reaching the $47,450 mark with a 3.25% increase. This surge marks the largest weekly rally for Bitcoin in four months and brings it past the $46,000 milestone. The momentum is fueled by the approval of the first spot Bitcoin ETFs in the US and the upcoming halving event in April.
Bitcoin ETFs Experience Third-Largest Inflow as Price Surpasses $46,000
Bitcoin ETFs have seen their third-largest inflow on record, with $403 million pouring in on February 8th. This indicates strong demand for these exchange-traded funds since their introduction in January. BlackRock iShares Bitcoin Trust leads the inflows with $204 million.
Legal Woes for NBA: Class Action Suit Over Voyager Digital Endorsements
The NBA is facing a class action lawsuit over its marketing agreements with Voyager Digital, a failed cryptocurrency exchange. The lawsuit claims gross negligence and investor losses of $4.2 billion. This legal dispute highlights the challenges of cryptocurrency advertising and its impact on public perception.
Bitcoin Price Prediction
Bitcoin’s current price hovers around $47,475, with a slight decline over the past day. Key price levels to watch include resistance at $47,279, $47,599, and $48,199, and support at $45,567, $45,097, and $44,597. The market remains bullish but caution is advised due to overbought conditions indicated by the RSI.
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