Bitcoin rose above $64,000 on Saturday, hitting an intraday high of over $64,200. The largest cryptocurrency by market capitalization is up more than 1% in the last 24 hours and is now up more than 8% from its June low of just over $59,000.
The sentiment has also been supported by new positive developments on the geopolitical front in the Middle East.
Pakistan’s Prime Minister stated on
Meanwhile, Friday saw the largest daily inflows into US spot Bitcoin ETFs since May, with net inflows totaling $85.9 million. The last time inflows exceeded this level was on May 14.
On Friday, a Standard Chartered analyst said ETF holders have been anecdotally liquidating their positions to free up cash to participate in SpaceX’s initial public offering. Following SpaceX’s IPO launch on Friday, it could finally relieve that selling pressure, the analyst added.
