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International Business Times
International Business Times
Business
Marvie Basilan

Bitcoin Weekend Recap: $BTC Targets $65K Amid Positive ETF Flows, Fed Chief's Statement

Bitcoin BTC US Federal Reserve Pavel Durov ETF Jerome Powell Telegram Crypto BlackRock
Bitcoin was on a roll throughout the weekend and had been targeting $65,000 before it retreated below $64,000 early Monday. (Credit: Kostenlose Bilder mit KI/flickr)

KEY POINTS

  • Spot Bitcoin ETFs logged a total of $252 million in inflows Friday, led by BlackRock's IBIT
  • Powell hinted that the central bank may slash interest rates as soon as next month
  • The crypto community was met with news Saturday that Telegram's Pavel Durov was arrested in France

Bitcoin had a great weekend despite news about Telegram CEO Pavel Durov's arrest in France. The world's first decentralized cryptocurrency climbed above $64,000 and is looking to breach the $65,000-line following positive news on Bitcoin exchange-traded funds' (ETFs) inflows and the Fed chief's talks about rate cuts.

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