Bitcoin’s price remained below $100,000 for nearly three weeks, but the asset shot into six-digit territory yesterday and tapped a yearly peak of over $102,500.
The asset’s latest surge came as the ProShares Bitcoin Strategy ETF (BIT) began trading on the New York Stock Exchange Arca. The ETF was notably green throughout the day and closed about 4.5% up on its debut.
Meanwhile, the Grayscale Bitcoin Trust (GBTC) was also up by about 2.5% at the opening bell. Both instruments saw a total of around $1 billion in net creations, which drove the authorized participants (APs) to buy a lot of BTC in the spot market.
Crypto Markets Add $100 Billion as Bitcoin (BTC) Soared to 18-Day Peak (Market Watch)
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![Bitcoin [BTC] Has Entered a Consolidation Phase, Showing Signs of Cooling Without Triggering Widespread Selling](/uploads/2025/03/27/cryptocurrencies-news/articles/bitcoin-btc-entered-consolidation-phase-signs-cooling-triggering-widespread-selling/img-1_800_480.jpg "Bitcoin [BTC] Has Entered a Consolidation Phase, Showing Signs of Cooling Without Triggering Widespread Selling")
