Bitcoin (BTC) Tops $61K: Jackson Hole and ETF Insights

Bitcoin (BTC) recently jumped above $61,000. It has been hovering between $59,000 and $61,000 for the past two weeks.

Bitcoin (BTC) has crossed the $61,000 mark as holders watch the upcoming Jackson Hole meeting closely. Meanwhile, the presale of the gaming token Minotaurus (MTAUR) is offering tokens at a price that is 72% lower than the expected listing price.

Major cryptocurrency Bitcoin (BTC) crossed the $61,000 mark on Thursday, showing bullish signs. This comes as traders are keeping an eye on the upcoming Jackson Hole meeting, where the Federal Reserve might drop hints on future policies.

Moreover, the price of Bitcoin (BTC) has been trading within a narrow range between $59,000 and $61,000 for the past two weeks. However, it recently encountered resistance at the $61,000 level.

On the other hand, most other cryptocurrencies remained largely flat on Thursday. This includes Ethereum (ETH), Solana (SOL), BNB (BNB), and Ripple (XRP), which changed by less than 2% in the last 24 hours.

In contrast, Cardano (ADA) and Avalanche (AVAX) added 3% and 10%, respectively. Notably, Avalanche (AVAX) tokens were added to Franklin Templeton’s OnChain U.S. Government Money Market Fund.

Bitcoin spot ETFs in the U.S. saw $64 million in inflows over six straight days. Among these funds, BlackRock’s IBIT ETF saw the most inflows at $75 million.

Overall, it appears that institutions are still showing interest in Bitcoin (BTC), despite some analysts reporting a slowdown in the rate of inflows.

On the other hand, Ethereum ETFs saw another day of outflows, extending a six-day streak of negative performance. These funds lost over $800,000 on Thursday.

In total, these funds have seen outflows of more than $458 million since their launch in July.

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