Bitcoin Jumps Above $86,000 to 8-Month High
ARP Digital partner Yusuf Fakhro tells The Wall Street Journal that steady US spot ETF inflows are absorbing long-term holder supply into strength.
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ARP Digital partner Yusuf Fakhro spoke to The Wall Street Journal on 21 September as bitcoin reached an eight-month high, in coverage by Dow Jones Newswires reporter Joseph Wilkins.
Fakhro's assessment was that this advance differed in character from earlier ones. He attributed it to steady inflows into US spot bitcoin ETFs, which returned strongly after the Federal Reserve's decision and recovered most of the outflows seen around it, demand sufficient, in his reading, to absorb the coins long-term holders were selling into strength. The article set that against a market that had shrugged off both the failed Clarity Act vote and a quarter-point rate rise, with investors looking ahead to a planned US-China summit. Analysts from IG and Zaye Capital Markets also contributed.
