Bitcoin Stabilizes Above $57K After German Government Entity Receives $200M Worth of BTC Back from Exchanges
Bitcoin stabilized above $57,000 after a German government entity received over $200 million worth of the asset back from various exchanges, helping to revive sentiment. Spot bitcoin ETFs recorded nearly $300 million in net inflows on Monday, with BlackRock's IBIT leading buying activity. Bitcoin's mining difficulty slumped to a level last seen in March, which could favor smaller miners and spell profits for farms that were closed due to being unable to keep up with costs. Exchanges witnessed a net outflow of over 68,000 BTC on Friday, the highest since late 2020, indicating investor bias for long-term holding strategy.
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