- UK court rules Craig Wright is not Bitcoin creator Satoshi Nakamoto.
- Bitcoin ETFs’ assets surge to $97 billion, nearing gold ETFs’ value.
- Bitcoin hits all-time high of $73,794, then dips to $70,722.
A UK court presided over by Judge James Mellor delivered a verdict against Craig Wright, who claimed to be the creator of Bitcoin. The judge’s decision, which was anticipated, has now clarified that Wright is not Satoshi Nakamoto, the person behind the creation of Bitcoin, or the writer of the Bitcoin whitepaper. This judgment allows the cryptocurrency community to collectively exhale in relief.
The remarkable performance of Bitcoin ETFs has caught the attention of industry observers, who are speculating about the potential for further growth. These ETFs have attracted significantly more investment and have amassed larger asset bases than initially expected at their inception.
The market capitalization for the 11 spot Bitcoin ETFs started at $28.9 billion and has since expanded to $61 billion. The surge in Bitcoin’s value, coupled with heightened investor interest, has propelled the total assets under management of these ETFs close to $97 billion, a figure that rivals that of gold ETFs. Analysts believe that this number could soon exceed that of gold ETFs.
A Minor Price Adjustment Is Occurring
Bitcoin’s
According to CoinMarketCap, Bitcoin’s price has fallen to $70,722 as of this writing, a 2.93% decrease over the past 24 hours. Trading volume has also reduced by 26.44%.
Following the achievement of this new record value, Bitcoin’s price has undergone a slight downturn. Should the price recover above $71,660, it is expected to escalate and potentially challenge the $72,760 resistance level. Conversely, if the price drops below the $70,760 mark, it could potentially face a further decline towards the $69,540 support level.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
