The collective total held by all Bitcoin ETFs globally is now more than 1 million coins, currently worth almost $68 billion. Bitcoin exchange-traded products — investment vehicles that track the price or provide exposure to BTC — have surpassed 1 million in Bitcoin holdings globally.

Since spot Bitcoin ETFs first launched in the United States in mid-January, the 11 ETFs have sucked up 855,619 Bitcoin, accumulating an average of 6,200 BTC per day. According to data shared by HODL15Capital, another 21 Bitcoin exchange-traded products — offered in Canada, Germany, Brazil and other countries — pushes the total number of Bitcoin held to 1,002,343 BTC, worth an estimated $68 billion.

Bitcoin bounced off the 20-day EMA ($66,798) on May 24 and has risen above the $70,000 level on May 27, indicating that the bulls are trying to strengthen their hold.

The BTC/USDT pair is likely to rally to the formidable overhead resistance at $73,777. The bears are expected to defend this level with all their might because if they fail in their endeavor, the pair could surge to $80,000 and later to $84,000. On the other hand, if the price turns down sharply from the overhead resistance and breaks below the moving averages, it will signal that the pair may remain stuck inside the $59,600 to $73,777 range for a while longer.

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