Bitcoin
Bitcoin (BTC) price rises, lags behind Ether, Solana, Chainlink
The price of bitcoin (BTC) It has surpassed the $67,000 level for the first time in nearly a month as animal spirits in crypto returns after eight weeks of sideways to lower action.
At press time, bitcoin was trading at $67,250, up 2.8% in the last 24 hours and around 10% from Monday’s lowest levels. That lagged the broader CoinDesk 20 index, which was ahead 4.4% over the past 24 hours and about 12% from Monday’s low.
Among the index’s biggest movers were Chainlink (LINK)now up 18% since the Depository Trust and Clearing Corporation (DTCC) announced yesterday completion of a pilot project with Chainlink and several major US financial institutions, aiming to help accelerate the tokenization of funds. Other top performers today include Ether (ETH) with an increase of 5.3% and solana (SUN) gaining 7.7%.
The rapid turnaround in crypto sentiment comes after this week’s economic data showed a slowdown in US inflation and regulatory filings showed extraordinary interest in the even newer spot bitcoin ETFs. Izzy Englander’s $64 billion AUM Millennium Management disclosed a $2 billion position in BlackRock’s iShares Bitcoin Trust (IBIT) at the end of the first quarter and Paul Singer’s $70 billion AUM Elliott Management also disclosed holdings considerable holdings in bitcoin ETFs, although much smaller than Millennium’s position. Perhaps most interestingly, the Wisconsin State Investment Board – which manages that state’s retirement assets – showed a participation of around US$ 100 million in BlackRock’s IBIT.