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Bitcoin Surges To $65K: Whales And Spot ETF Demand Drive Momentum

  • Bitcoin has surged to $65,000, reaching a significant milestone in its price recovery.
  • The surge is attributed to continued accumulation by whales and sharks who have purchased $4.08 billion in Bitcoin over the past six months, preventing sustained declines in price.
  • The United States is reclaiming dominance in Bitcoin holdings, driven by increased demand for Bitcoin spot exchange-traded funds (ETFs).
  • Bitcoin spot ETFs recorded a net inflow of $106 million on September 25, with BlackRock's IBIT ETF attracting $184 million.

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