Share this article
Bitcoin Tops $47K as Spot Bitcoin ETFs Book One of Their Best Days
Spot bitcoin ETFs attracted Thursday their third-largest net inflows since debut, increasing their holdings by 9,260 BTC.
Updated Mar 8, 2024, 9:19 p.m. Published Feb 9, 2024, 3:17 p.m.
- Bitcoin jumped to $47,600 Friday U.S. morning hours, then quickly sold off 2%.
- Spot bitcoin ETFs saw over $400 million in inflows Thursday, their best day since Jan. 17, BitMex Research data shows.
Bitcoin climbed past $47,000 Friday as U.S.-based spot bitcoin exchange-traded funds (ETFs) booked one of their largest net inflows Thursday since their debut.
The largest crypto by market capitalization ran to as high as $47,699, the highest since the bitcoin ETF launch day, before it buckled to $46,700 in a swift sell-off. Soon after, prices quickly rebounded slightly over $47,000. At press time, BTC was up 4.5% over the past 24 hours, outperforming the CoinDesk 20 Index (CD20), a measure of the biggest cryptocurrencies, which advanced 3.8%.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The price surge happened as spot ETFs increased their net bitcoin holdings by 9,260 BTC, according to CoinDesk calculation based on the issuers' website. That translated to over $400 million in inflows, according to BitMex Research data, the highest figure since January 17.
Bitcoin ETF Flow - Data up to 8th Feb in US$ pic.twitter.com/yMdNOpd4ZC
— BitMEX Research (@BitMEXResearch) February 9, 2024
"This is the 3rd biggest inflow day for the group since their launch," James Seyffart, ETF analyst at Bloomberg Intelligence, said in an X post. "Still a big day."
While bitcoin gained nearly 10% in a week, the rally still has room to run, analysts said.
Alex Kuptsikevich, FxPro senior market analyst, told CoinDesk in an email interview that bitcoin is poised for higher prices for bitcoin after reclaiming the key 50-day moving average.
10X Research's Markus Thielen said earlier this week that bitcoin targets $48,000 in the short-term fueled by strong historic gains around the Chinese New Year festivities. In the mid-term he forecasted BTC to reach $52,000 in March completing the fifth wave of its uptrend.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Hut 8 stock surges 20% on Fluidstack AI data center deal
The bitcoin miner deepened its pivot into AI infrastructure with a $7 billion long term lease backed by Google.
What to know:
- Hut 8 (HUT) signed a 15 year, $7 billion lease with Fluidstack for 245 MW of IT capacity at its River Bend campus, with three 5 year renewal options lifting potential contract value to about $17.7 billion.
- Google is providing a financial backstop for the base lease term, while JPMorgan and Goldman Sachs are expected to lead up to 85% project level financing.
- Hut 8 shares are up around 20% in pre-market trading.
Top Stories
