Bitcoin: BlackRock's Spot BTC ETF Buys $107 Million Worth BTC
According to the data from Farside Investors, BlackRock’s spot Bitcoin (BTC) ETF, IBIT, purchased $107.9 million worth of BTC on Mar. 26. The purchase may have been the reason for BTC briefly reclaiming the $88,000 level. The growing institutional interest in the asset has led to substantial price spikes. Also Read: Jim Cramer Calls to Sell Alphabet (GOOGL) Stock: Here’s Why Cryptocurrency Market Recovery Source: Watcher Guru The cryptocurrency market may be entering another recovery phase. BTC’s rally to $88,000 may have triggered a brief market-wide rally on Mar. 26. Other bullish developments may have also aided the market rally. The SEC has dropped its litigation against Ripple. The financial regulator also announced four more crypto round tables. The developments may have pushed BTC and other assets. Also Read: Tesla (TSLA) Stock Up 14% in 5 Days & Analysts Are Saying This Why The Fed pausing interest rates after its recent meeting may have also helped investor confiden...