Bitcoin Hovers Near One-Month High on ETF Inflows, Looming Halving
- New US spot ETFs for the token have attracted some $8 billion
- Commentators view April’s Bitcoin halving as a prop for prices
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Bitcoin is making a run toward the $49,000 high reached last month when a batch of US spot exchange-traded funds began trading, supported by signs of steady inflows as well as growing attention on the so-called halving due in April.
The largest digital asset rose about 5.6% at 1:44 p.m. in New York on Friday after climbing as high as $48,187. Smaller tokens such as Ether, Solana and Cardano also pushed upward. Bitcoin is now up 12% so far this year, beating even the so-called Magnificent Seven mega-cap tech stocks.