Traders rejoice as Bitcoin’s price hits $42,000. Here is why BTC’s price is up today.
Bitcoin’s (BTC) price has broken through $42,000 for the first time in nearly seven days as the market recovers from the aftermath of the spot Bitcoin exchange-traded fund (ETF)-linked sell-off.
Data from Cointelegraph Markets Pro and TradingView shows Bitcoin climbed rapidly from a price of $39,545 on Jan. 26 and gained 5% to trade at $41,973.
Bitcoin’s price performance comes as the market experiences a slowdown in outflows for Grayscale’s GBTC spot ETF.
