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Bitcoin recharged over the weekend, retreating to $106.5K. As of Monday morning, it is trying again to break above $110.0K. At the end of last week, the Relative Strength Index touched the 80 level on the daily timeframes, indicating overbought conditions, but the subsequent retreat cleared the way for a rally. However, whether the coin goes there will depend on the dynamics of global markets, where the focus remains on the US and Japanese bond markets.
Crypto News
Significant inflows into US spot bitcoin ETFs have continued for five consecutive weeks. According to SoSoValue, net inflows into spot BTC-ETFs totalled $2.75bn last week, bringing the total amount invested since January 2024 to $44.53bn.
Inflows into spot Ethereum-ETFs in the US have continued for 4 out of the last 5 weeks, totalling $248.3 million last week, bringing the total since the ETF’s launch in July 2024 to $2.76 billion.
Strategy announced the launch of a new $2.1bn Class A preferred share offering programme. The funds are expected to go predominantly towards additional bitcoin investments.
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