From Nasdaq.:

Bitcoin traders are aiming for a $64,000 price target after BlackRock’s iShares Bitcoin ETF sees a $500 million inflow in a single day. Excluding Grayscale’s Bitcoin Trust, these ETFs have amassed over $11 billion in Bitcoin. The price of Bitcoin surged over $51,000, marking a 2% increase in 24 hours.

Several traders are predicting a surge to $64,000, citing technical analysis and growing demand from institutional investors. At the same time, options traders are also actively betting on Bitcoin surpassing its all-time high of $69,000 in the coming months, with some bets targeting as high as $75,000.

This recent surge in Bitcoin’s price comes after a sharp downturn on Tuesday, which saw the cryptocurrency dip below $49,000 following the release of the U.S. Bureau of Labor Statistics’ Consumer Price Index (CPI) report. Meanwhile, Cathie Wood, the CEO of ARK Investment Management, predicts that the Securities and Exchange Commission (SEC) will likely approve ETFs of only Bitcoin and Ethereum (ETH) in the future.



Read more: Bitcoin Traders Eye $64K Target As Blackrock’s ETF Rakes In $500M In A Day