Bitcoin hits a new daily high as money flows into BITO ETF
19 Oct 2021
Bitcoin hits a high of $63,510
A ‘sell the fact’ trade after the launch of the US bitcoin ETF has turned into a ‘buy when they sell the fact’ trade.
Bitcoin is now up more than 3% on the day to a high of $63,510 after falling as low as $61,062 shortly after the product launch.
All signs are pointing to an extremely successful launch with 19.3 million shares trade already. We will get total inflow data after the close.
The key number for bitcoin remains $64,800, which was the April high but the closing high that day of $63,655 is also notable. That seems to be acting as resistance here, even though bitcoin trading never ‘closes’.