Bitcoin Surpasses $110,000 Following $407.78 Million ETF Inflows
Bitcoin (BTC) surpassed $110,000 for the first time since June 11, driven by over $407.78 million in inflows into U.S.-listed bitcoin spot ETFs on Wednesday. This brings the total ETF inflow to $49.04 billion according to SoSoValue.
The price increase positively impacted the broader market, boosting major tokens:
- XRP
- Ether (ETH)
- Solana (SOL)
- Cardano (ADA)
Memecoins BONK and FARTCOIN saw significant gains of over 20% within 24 hours. The CoinDesk Memecoin Index increased by 12.6%, while the CoinDesk 20 Index rose by 4.3%.
Traders are anticipating the U.S. nonfarm payrolls data to be released later Thursday. Market analysts suggest that the previous high of around $112,000 may be tested soon, though the upcoming employment report could influence market conditions significantly.