Greed

Bitcoin ETF

Bitcoin

The global digital asset market printed green indexes on Friday morning as Bitcoin (BTC) made its way to clinch the $46,000 mark. The current condition of the crypto market suggests that <a href="https://news.todayq.com/bitcoin-predicted-to-reach-48k-as-sec-grapples-with-debt-box/" target="_blank" rel="noopener noreferrer nofollow">Bull season</a> is back on its way after several stoppages. The global crypto market cap recorded a surge of over 3% in the last 24 hours. Bitcoin price breaches $46K 
Data shows that Bitcoin surpassed the $46k mark for the first time since the approval of multiple Bitcoin <a href="https://news.todayq.com/spot-eth-etf-update-ark-invest-and-21shares-address-new-strategies/" target="_blank" rel="noopener noreferrer nofollow">exchange-traded fund</a> (ETF) products by the US Securities and Exchange Commission (SEC) last month. Within the last 24 hours, the original crypto recorded a 5% surge to breach $46,500 at the time of reporting.
According to reports, Data indicates that the approval and high investment influx into BTC ETFs has provided an upward momentum to Bitcoin’s market. However, this positive trajectory aligns with historical market patterns. This has fueled expectations among the investors of further growth, particularly post-halving. The Fear and Greed index stands at the 62 mark showing greed in the market.
At the same time, other major alternative cryptos like <a href="https://news.todayq.com/ethereum-bulls-eye-3k-as-developers-gear-up-for-dencun-upgrade/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> (ETH), Binance-backed BNB, Solana (SOL), Tron (TRX), Avalanche (AVAX), and XRP showed resilience. These top tokens’ prices are up by 2% during the same period. The cumulative crypto market cap stands at $1.76 trillion.
Coinglass data reveals that the recent price movement triggered liquidations totaling $123 million across all assets. This impacted over 38,000 crypto traders. Long traders incurred losses of approx $34 million, while short traders faced liquidations of around $90 million. Is ETF behind this surge? 
Experts note that Bitcoin ETF inflows have surpassed $1.8 billion in the first few weeks, with the potential to grow further.
It is important to note that Bitcoin price broke the $46,000 barrier, a level last seen on January 12, the day after the commencement of US spot Bitcoin ETF trading. The positive market sentiment around BTC is further supported by a decline in shares of New York Community Bancorp. This has driven investors toward cryptocurrency as a hedge against regional banking uncertainties.
Large investors, commonly called “whales,” have been accumulating Bitcoin over the past two weeks, contributing to the cryptocurrency’s recent uptrend. While Bitcoin’s average daily trading volumes decreased by 29.6% week-over-week, according to JPMorgan. Bitcoin is trading at an average price of $46,775, at the press time.
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Bitcoin is over $46,500 and Rising as Bull season resumes

Todayq News

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