Bitcoin surged to $71,928, marking its highest value in nearly a month, as the cryptocurrency market rebounded from recent sell-offs. The leading digital asset gained over 9% in 24 hours, driven by significant inflows into U.S. spot Bitcoin ETFs, which attracted more than $680 million on Monday and Tuesday. Despite the rally, Bitcoin later settled at $71,343, up 5.62% for the day.
Tether CEO Paolo Ardoino expressed optimism, noting Bitcoin's resilience, while longtime critic Peter Schiff dismissed the rise as a "head fake," advising investors to sell Bitcoin in favor of gold or silver. Schiff's skepticism comes amid Bitcoin's recent outperformance of gold, despite remaining 43% below its all-time high from October.
Bitcoin Surges to $71,928 Amid Market Rebound, Schiff Warns of 'Head Fake'
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