Bitcoin Surges Past $70k as Green Bitcoin ICO Raises $9m

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Bitcoin (BTC) is back in rally mode, surging past the $70,000 level once again after a brief pullback.

The flagship coin’s rebound has helped reinvigorate bullish sentiment across the crypto market.

While Bitcoin leads the charge, eco-friendly upstart Green Bitcoin (GBTC) is also turning heads after passing the $9m milestone in its limited-time ICO. 

Bitcoin Reclaims $70k as Millions in Shorts Are Liquidated

Bitcoin’s climb back above $70,000 caps off an impressive three-day run for the world’s largest cryptocurrency.

After bottoming out around $62,350 this past Friday, BTC has mounted a steady surge – reclaiming 13% of its value to now trade at $70,780.

This marks Bitcoin’s highest valuation since March 13, when it briefly spiked above $73,000 before retracing.

Unsurprisingly, the coin’s current rally has been accompanied by a significant influx of trading volumes.

Traders have exchanged over $44.6 billion worth of BTC across spot exchanges in the past 24 hours alone, marking a staggering 48% increase from the previous day.

This wave of activity has put huge pressure on short-sellers.

According to data from CoinGlass, a whopping $127 million in BTC short positions have been liquidated during the coin’s latest upswing.

With Bitcoin regaining its footing, some analysts are setting their sights on even loftier targets in the near future.

Popular Twitter analyst @QuintenFrancois stated today that he expects BTC to “pump to $80,000” within the next week if $75,000 can be reclaimed.

Spot Bitcoin ETF Inflows Bounce Back Ahead of BTC Halving

The surge in Bitcoin’s price appears to be backed by increasing institutional demand via spot ETFs.

After seeing outflows for several days, these ETFs that directly hold BTC snapped that streak yesterday by accumulating over $15 million in new capital.

Data from analytics firm Farside reveals that Fidelity’s ETF led the inflows by raking in $261 million from investors.

Other funds, such as BlackRock’s and BMO’s, also experienced sizable inflows.

However, the Grayscale Bitcoin Trust continues to see enormous outflows, with $350 million exiting the fund on Monday.

Regardless, institutional players’ renewed appetite for spot Bitcoin exposure could be contributing to Bitcoin’s latest rally.

With smart money buyers returning to the market and the next halving event approaching, Bitcoin’s momentum could accelerate in the days ahead.

Green Bitcoin ICO Soars Past $9M Amid Gamified Green Staking Hype

While Bitcoin mounts a recovery, a new eco-friendly project is also generating buzz after its ICO hit a significant milestone.

Green Bitcoin’s GBTC token ICO passed the $9 million mark yesterday amid surging investor demand.

The project’s developers are clearly confident in the current trajectory, celebrating the accomplishment by launching a $200 GBTC giveaway on Twitter.

To enter, users simply need to like and retweet the team’s latest post while tagging a friend.

For those looking to get in on the presale itself, GBTC tokens remain discounted at just $1.106 each – though this price will rise again in two days’ time.

Despite the looming increase, buyers have been eagerly securing their allocations, with over 63% of all purchased GBTC having already been staked.

Staking is a core utility driving Green Bitcoins’ popularity so far.

By locking up their tokens, stakers can earn an estimated APY of 74% paid out in GBTC over the course of two years.

Yet Green Bitcoin takes things one step further with its “Gamified Green Staking” system.

As outlined in the project’s whitepaper, this system allows GBTC holders to increase their staking rewards by accurately predicting Bitcoin’s price movements through an in-app portal.

In addition to these incentives, Green Bitcoin markets itself as a more sustainable and energy-efficient alternative to Bitcoin’s Proof-of-Work (PoW) setup.

These features position Green Bitcoin as an exciting prospect for eco-conscious crypto investors seeking high potential returns.

Investors can buy GBTC tokens by heading to greenbitcoin.xyz and using ETH, USDT, or a credit/debit card.