Bitcoin Price Soars Past $55,000 as ETF Trading Volume Surges Amid Market Volatility
Bitcoin’s price recently rebounded to around $55,126 after dipping below $50,000, reaching an intraday high of $56,245. This recovery comes amid a series of economic pressures, including the U.S. Federal Reserve’s decision to maintain high interest rates, which has heightened recession fears.
The Bank of Japan’s rate hike has further tightened global liquidity, and geopolitical tensions between Iran and Israel continue to undermine market confidence.
These factors, alongside crypto futures liquidations and ongoing Mt. Gox distributions, have intensified market volatility, yet Bitcoin’s price resilience suggests investor confidence in its long-term potential.
Bitcoin (BTC) exchange-traded funds (ETFs) experienced a significant surge in trading volumes, surpassing $1 billion on August 5, following a major market downturn. According to Alex Thorn of Galaxy Digital, Bitcoin ETFs saw over $1.3 billion in trading volume within just 20 minutes, with the iShares Bitcoin Trust leading at $875 million.
⭐️Bitcoin ETF trading volume tops $1B amid crypto crash — Galaxy
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