Bitcoin-backed mortgages are now available on Coinbase: What homebuyer should know

00:00 Scott Melker

Bitcoin went up over 20% last week on a historic short squeeze, but now we're seeing evidence of real follow through and real buying. We're going to talk about that and everything else happening in the crypto news today on the Daily Wolf. Let's go.

00:18 Scott Melker

What is up, everybody? Welcome to the Daily Wolf on Yahoo Finance. I'm your host Scott Melker, also known as The Wolf of All streets.

00:30 Scott Melker

Hard to do a show right now without talking about the historic short squeeze that we saw last week. As you know, we had billions and billions and billions and billions of dollars in shorts liquidated. But the big question coming into the week was, would we see some follow through? Would we see spot buying? Would we see ETF buying or would this be yet another technical move that would eventually fade away. The good news is, regardless of price, we have some of that evidence. Here you go.

01:03 Scott Melker

Yes, Bitcoin steadies above 79,000, price irrelevant as ETF inflows hit longest streak since April. Bitcoin held its ground Thursday as spot Bitcoin ETFs logged an eighth straight day of net inflows while all coins drifted lower across the board. So to put some numbers behind this, approximately 2.8 billion has entered Bitcoin spot ETFs, more obviously if you include the all coins, just during this 8-day streak.