After eight weeks of sideways-to-down action, the crypto animal spirit has returned and Bitcoin (BTC) prices have climbed above the $67,000 level for the first time in nearly a month.
At the time of writing, Bitcoin was trading at $67,250, up 2.8% over the past 24 hours and about 10% from Monday's lowest level. This lagged the broader CoinDesk 20 index, which has risen 4.4% in the past 24 hours and is up about 12% from Monday's lows.
The biggest mover in the index was Chainlink (LINK), with the Depository Trust and Clearing Corporation (DTCC) announcing yesterday the completion of a pilot project between Chainlink and several large US financial institutions aimed at accelerating tokenization. It's now up 18% since then. of funds. Other outperforming stocks today include Ethereum (ETH), up 5.3%, and Solana (SOL), up 7.7%.
The sharp turnaround in crypto market sentiment comes as economic data this week showed slowing U.S. inflation and regulatory filings showed unusual interest in the still-new Spot Bitcoin ETF. This was in response to the Izzy Englander's $64 billion in assets under management, Millennium Management, disclosed a $2 billion position in BlackRock's iShares Bitcoin Trust (IBIT) at the end of the first quarter, and Paul Singer Elliott Management, which has $70 billion in assets under management, also revealed a significant Bitcoin ETF holding, although it is much smaller than Millennium's position. Perhaps most interestingly, the Wisconsin Investment Commission, which manages the state's retirement assets, indicated it owns about $100 million in stock in BlackRock's IBIT.
