- Bitcoin hits new all-time high price above $73,600 as bulls push higher
- Spot bitcoin ETFs see record $1 billion inflows on March 12, led by BlackRock’s bitcoin trust
- Increasing institutional ETF adoption signals more maturity for bitcoin as an asset class
Bitcoin hits a new all-time high price as ETF inflows reach record levels. The leading cryptocurrency continues its bull run thanks to increasing institutional adoption.
Bitcoin Price Discovers New Highs
The bitcoin price set a fresh record above $73,600 ahead of the March 13 Wall Street open. Bulls pushed the price higher after beating out sell-side liquidity. After consolidating around $72,000 the prior day, the price snapped back from a brief dip below $69,000 to abruptly head upwards. The $73,800 level acted as resistance, with little beyond that preventing further upside towards $80,000.
Spot Bitcoin ETFs Break Inflow Records
Spot bitcoin ETFs saw their highest-ever daily inflows, dwarfing anything seen before. The ETFs brought in $1 billion in net inflows on March 12, with BlackRock‘s iShares Bitcoin Trust taking the majority share. The two largest ETFs held over 330,000 BTC combined, five times more than what miners added. The steady inflows suggest more institutional adoption is coming.
Conclusion
Bitcoin continues showing strength by hitting new all-time highs. Meanwhile, record spot ETF inflows point to increasing institutional interest. If flows keep rising, the path appears clear for bitcoin to continue appreciating in price and cementing its status as a mature asset class.
