White House · Donald Trump · Bitcoin · U.S. · U.S. Treasury · Bitcoin Magazine
Investors have this week frantically acquired shares of Bitcoin ETFs, with the funds on Thursday receiving $606.3 million
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Positive regulatory news coming out of the White House is also helping: President Donald Trump held a meeting with crypto executives earlier in the week, and urged lawmakers to get the Clarity Act over the line.
Key facts
- The leading cryptocurrency on Friday was recently trading 23% higher over a seven-day period after flying past $77,542
- In a note Friday, Standard Chartered’s Global Head of Digital Assets Research, Geoffrey Kendrick, said that Thursday was the largest liquidation of Bitcoin shorts ever when $1.1 billion in bets
- Bitcoin continued its rise on Friday, having its best week since 2023 as over $1 billion in shortsellers’ positions got ruined and exchange-traded funds received billions in new cash
- Bitcoin’s rise comes after the American investors fast piled into exchange-traded funds, with the vehicles so far this week taking in over $1.6 billion, according to Farside Investors data
Summary
Bitcoin's price continues to rise and those betting on it to fall are suffering. Bitcoin continued its rise on Friday, having its best week since 2023 as over $1 billion in shortsellers’ positions got ruined and exchange-traded funds received billions in new cash. The leading cryptocurrency on Friday was recently trading 23% higher over a seven-day period after flying past $77,542. Bitcoin’s rise comes after the American investors fast piled into exchange-traded funds, with the vehicles so far this week taking in over $1.6 billion, according to Farside Investors data. CNBC analysts said that the coin’s rise is its best performance since 2023 and was triggered by the Treasury Department’s Wednesday announcement to at least double the size of its long-dated bond buybacks.