Bitcoin traded around $79,632 on Thursday morning, up about 2% from a day earlier but still roughly $21,900 below its price one year ago. Its market capitalization was about $1.60 trillion, while 24-hour trading volume reached approximately $35.2 billion. The drop below $80,000 followed an oil price rebound and the Bank of England’s rate increase. Brent crude futures rose 1.6% to $96.15 a barrel, and the Bank of England raised its policy rate by 25 basis points to 4%, its first increase in more than three years. U.S. spot bitcoin ETFs recorded $74.6 million in net inflows on Wednesday after three sessions of outflows totaling about $1.16 billion, although political uncertainty and upcoming economic data remain risks.
Source: Read the original article
