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Bitcoin climbs back toward $65,000 as crypto flows cool
Spot bitcoin funds lost about $95 million on Thursday even as bitcoin rose roughly 3% in the prior 24 hours.
Bitcoin traded just above $64,000 and moved closer to the $65,000 level, after erasing earlier losses this week. CoinDesk said bitcoin was around $64,500 in U.S. trading on Friday morning, up about 3% over the past 24 hours, while U.S. stock indices and oil were little changed on the session.
CoinDesk also highlighted a mixed picture for institutional demand, noting spot bitcoin funds lost roughly $95 million on Thursday and ether funds saw outflows of about $52 million. The outlet framed this as the end of the one bright spot in crypto’s institutional flows, even as prices rallied.
The report said crypto-related stocks rose alongside bitcoin, with Circle Financial up about 15% after receiving regulatory approval to establish a national trust bank. Other crypto-linked names including MicroStrategy, Coinbase, and Galaxy Digital were also higher in the same trading window.
CoinDesk added that SK Hynix’s U.S. ADR debut was attracting investor attention, with shares indicated to open around $181, about 22% above its $149 offering price. The outlet linked the enthusiasm to AI-related semiconductor demand, particularly for high bandwidth memory chips.
Latest closeBitcoin $63,968.27 ▲1.2%