Bitcoin climbed above $62,000 on Friday as large holders continued accumulating the cryptocurrency despite record outflows from US spot Bitcoin exchange-traded funds (ETFs), while investors also weighed weaker US economic data and the outlook for Federal Reserve policy. Bitcoin BTC rose to as high as $62,310, its strongest level since June 24, according to CoinMarketCap data. The move came as US financial markets remained closed for the Independence Day holiday after the Dow Jones Industrial Average reached a record high in the previous session. Bitcoin tests key resistance levels Market participants said Bitcoin’s recent advance has been driven by steady buying, although key technical resistance remains just ahead.
Source: Read the original article
