2024

Bitcoin ETF

Bitcoin

Spot

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-climbs-to-a-2024-peak-exceeding-49000" rel="noopener noreferrer nofollow">Bitcoin Climbs to a 2024 Peak Exceeding $49,000</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoin-stabilizes-amidst-large-wallet-movements-and-etf-influence" rel="noopener noreferrer nofollow">Bitcoin</a>‘s value has recently soared past the $49,000 threshold, establishing a fresh peak for the year 2024 at $49,140. This surge comes after a previous decline to $38,555, which occurred after selling pressure commenced on January 11 from a high of $48,969. The resurgence in Bitcoin’s price is significantly attributed to the optimistic sentiment surrounding spot Bitcoin Exchange-Traded Funds (ETFs).</p>
<h2 id="spot-bitcoin-etf-influence-grows">Spot Bitcoin ETF Influence Grows</h2>
<p style="text-align: justify">The collective reserves held by spot Bitcoin ETF issuers, with the exception of GBTC, have now exceeded the substantial sum of $10 billion. Additionally, net inflows have reached beyond $2 billion. Concurrently, GBTC’s sales have seen a dramatic decrease from $600 million to $52 million. These developments have played a pivotal role in fueling the Bitcoin rally supported by the spot ETF market. The impact of ETF approvals on Bitcoin’s long-term upward trajectory has been a recurrent topic of discussion.</p>
<h2 id="market-resilience-against-false-news">Market Resilience Against False News</h2>
<p style="text-align: justify">Market pundits had previously opined that short-term market movements would not result in drastic losses. They argued that even a substantial spot sale of $5 billion wouldn’t have caused a prolonged sell-off if sparked by erroneous information. The approval of Bitcoin ETFs, distinct from typical deals, partnerships, or announcements, ensured that the selling pressure was short-lived.</p>
<p style="text-align: justify">With the Bitcoin price on an upward path, projections suggest a continued rise toward the $52,000 mark. Should the cryptocurrency manage to sustain closes above this level, the next target is expected to be $60,000. While altcoins have yet to join the rally, it’s anticipated that they will experience growth as Bitcoin begins to stabilize at these higher valuations.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-climbs-to-a-2024-peak-exceeding-49000" rel="noopener noreferrer nofollow">Bitcoin Climbs to a 2024 Peak Exceeding $49,000</a></h5>

Bitcoin Climbs to a 2024 Peak Exceeding $49,000

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