Bitcoin Tops $66K as US Spot ETFs See $226.8M Inflow; Analyst Says Bottom May Be In
Bitcoin reclaimed $66,000 as U.S. spot ETFs recorded a net inflow of $226.8 million after weeks of heavy outflows. Standard Chartered's Geoffrey Kendrick suggested the bottom may already be in and reiterated a $100,000 year-end target, calling even $500,000 too low.
BTCUSD
Bitcoin climbed back above $66,000, marking a notable recovery after recent weakness. Data shows U.S. spot Bitcoin ETFs attracted $226.8 million in net inflows on the day, reversing a prolonged period of outflows.
Standard Chartered’s Geoffrey Kendrick weighed in, stating that the correction bottom may be in place. He maintained his year-end price target of $100,000 and suggested that even $500,000 could be too conservative in the long run.
Source: Cointelegraph