#Could BTC break the $60K-$70K range soon?

Week of firsts on their Bitcoin ETF: Are things turning?

The cryptocurrency market, especially Bitcoin and Ether, is leaving behind a very shaky week. While Crypto currencies are dominated by red colors until the middle of the week when the Fed interest rate decision is announced, the market is trying to heal its wounds on holidays.

In the first days of May, the firsts in spot Bitcoin exchange mutual funds (ETF) had great repercussions. On May 1, 2024, BlackRock's IBIT fund saw its first outflow, while on Friday, the opposite movement was observed in Grayscale Bitcoin Trust (GBTC), which has been under a sell-off for months.

Interestingly, GBTC was the second most invested BTC fund on Friday, May 3, according to data from market tracker Farside Investors.

According to the data, U.S.-listed spot BTC funds raised $378 million on May 3 after seven days of negative flow. Of that figure, $63 million went to GBTC.

On the last business day of the week, BlackRock's IBIT was weak compared to its competitors at $12.7 million. The product that saw the biggest movement was Fidelity's (FBTC) Bitcoin investment fund with $102.6 million.

While daily movements of more than $30 million were seen in spot funds coded ARKB, BTCO, EZBC and BRRR, only $12 million in IBIT attracted attention.

The latest situation in Bitcoin
The largest cryptocurrency by market cap significantly recouped its weekly loss on Friday and Saturday. BTC has risen 8.7 percent in the last 24 hours.

The ancestor of Crypto coins is currently changing hands for around 64 thousand dollars. #ContentStar #HotTopicDiscussion