Bitcoin crosses $50k as market momentum grows

Bitcoin’s price topped $50,000 on Monday, a level not seen since 2021. 

Bitcoin has been rallying since last week, posting record highs as the bitcoin ETF outflows slowed. 

The ETFs, which received regulatory approval in the US last month, posted net inflows of $1.1 billion last week, according to CoinShares. Since the funds launched, they’ve seen $2.8 billion of inflows.

Last week, Fidelity’s bitcoin ETF hit $3 billion in assets, a milestone passed by BlackRock earlier this month.

The outflows have primarily been out of Grayscale’s bitcoin ETF, which was converted from the firm’s bitcoin trust. Last week, GBTC saw outflows of $415 million. Outflows touched $900 million the…

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