Bitcoin Surges Beyond $70k Milestone as Green Bitcoin ICO Secures $9 Million

Bitcoin (BTC) has resumed its rally, surpassing the $70,000 mark once again following a brief pullback, injecting renewed bullish sentiment into the crypto market. Concurrently, the eco-friendly newcomer Green Bitcoin (GBTC) is making waves, having exceeded the $9 million milestone in its limited-time Initial Coin Offering (ICO).

Bitcoin Regains $70k Amid Liquidated Short Positions

Bitcoin's ascent beyond $70,000 marks an impressive resurgence over the past three days for the leading cryptocurrency. After hitting a low aroundof  $62,350 last Friday, BTC has staged a consistent climb, recouping 13% of its value to reach $70,780 presently.

This represents Bitcoin's highest valuation since March 13, when it briefly surged above $73,000 before retracing. The current rally has been accompanied by a substantial surge in trading volumes, with over $44.6 billion worth of BTC traded across spot exchanges in the past 24 hours alone – a staggering 48% increase from the previous day.

This surge in activity has resulted in significant liquidations of short positions, with CoinGlass data indicating that approximately $127 million in BTC short positions have been liquidated during the latest upswing.

Some analysts are now eyeing even higher price targets in the near term. Popular Twitter analyst @QuintenFrancois predicts a potential pump to $80,000 within the next week if BTC manages to reclaim $75,000.

Institutional Demand via Spot ETFs Supports Bitcoin's Surge

The recent surge in Bitcoin's price is bolstered by growing institutional demand through spot ETFs. After experiencing outflows for several days, these ETFs holding BTC directly reversed the trend yesterday by accumulating over $15 million in new capital.

Farside analytics data indicates that Fidelity's ETF led the inflows by attracting $261 million from investors. Other funds, including those from BlackRock and BMO, also saw substantial inflows. However, the Grayscale Bitcoin Trust continued to witness significant outflows, with $350 million exiting the fund on Monday.

Nevertheless, renewed interest from institutional players in spot Bitcoin exposure is believed to contribute to Bitcoin's latest rally, particularly with the next halving event on the horizon.

Green Bitcoin ICO Surpasses $9 Million Amid Gamified Green Staking Excitement

As Bitcoin makes a recovery, the Green Bitcoin project has garnered attention for surpassing the $9 million mark in its ICO amid growing investor interest.

The project's developers celebrated this milestone by initiating a $200 GBTC giveaway on Twitter. Additionally, GBTC tokens remain discounted at just $1.106 each in the presale phase, with over 63% of all purchased GBTC tokens already staked.

Staking is a key utility driving interest in Green Bitcoin, offering stakes an estimated APY of 74% paid out in GBTC over two years. Moreover, the project features a "Gamified Green Staking" system, allowing GBTC holders to enhance their staking rewards by accurately predicting Bitcoin's price movements.

Positioning itself as a more sustainable alternative to Bitcoin's Proof-of-Work setup, Green Bitcoin aims to appeal to eco-conscious investors seeking high potential returns. Interested investors can acquire GBTC tokens via green bitcoin.XYZ using ETH, USDT, or a credit/debit card.