Bitcoin Soars Past $60,000 Amid Coinbase Glitch and ETF Demand Shock
Coinbase assures users their assets are safe after a glitch shows $0 balances, while Bitcoin's price surge is fueled by ETF demand and anticipation of the upcoming 'halving' event.
- Coinbase experienced a technical glitch showing $0 balances for users amid a surge in traffic as Bitcoin soared past $60,000, but assured customers their assets are safe.
- The glitch coincided with Bitcoin reaching $64,000, driven by a 'demand shock' as ETFs purchased BTC faster than it was mined.
- BlackRock's Bitcoin ETF saw a record $520 million inflow in a single day, highlighting the growing institutional interest in cryptocurrency.
- The upcoming Bitcoin 'halving' event, expected in mid-April, is contributing to the cryptocurrency's price surge, with investors anticipating reduced block rewards.
- Despite the Coinbase glitch, Bitcoin's price remains resilient, briefly dropping before recovering, as the SEC's approval of spot Bitcoin ETFs fuels market optimism.
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