Bitcoin’s price has surged past $65,000 after dropping below $57,000 last week. Bitcoin (
BTC
) is currently at $65,500, but according to CoinMarketCap data, it has fallen back to $63,500 at the time of writing.

The coin’s asset dominance has also increased alongside a BTC price jump. The indicator shows Bitcoin’s market capitalization share in the total market capitalization of all cryptocurrencies, reaching 54.8%.

In addition, the Fear and Greed Index has risen by two basis points over the past 24 hours.

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The recent U.S. labor market report pushed Bitcoin above $60,000 on May 3. The rise occurred shortly after the publication of the U.S. jobs report, which shifted expectations of the Federal Reserve’s key rate cut from November to September.

Investors have been steadily withdrawing funds from Bitcoin spot ETFs since last month. From April 24 to May 2, $1.2 billion flowed out. However, on the last trading day, the negative trend finally stopped. On May 3, spot Bitcoin ETFs saw a $378 million inflow. Since January of this year, total inflows into BTC ETFs have exceeded $11.5 billion.

Moreover, on April 30, spot ETFs for Bitcoin and Ethereum (
ETH
) were traded in Hong Kong. Despite lower trading volume compared to American counterparts, the introduction of such instruments in the Asian market is a positive step towards wider cryptocurrency acceptance.

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