Bitcoin

Momentum

Impact

Spot

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-breaks-50000-barrier-as-market-momentum-builds">Bitcoin Breaks $50,000 Barrier as Market Momentum Builds</a><br></p>
<p style="text-align: justify">The <a href="https://en.bitcoinhaber.net/expert-forecasts-steady-bitcoin-growth-predicts-no-drop-below-40000">Bitcoin</a> market has witnessed a significant upturn, with the cryptocurrency’s value exceeding the $50,000 mark, sparking positive projections for the year 2024. This upbeat sentiment in the crypto sector is driven by a series of events, most notably the introduction of Spot Bitcoin Exchange-Traded Funds (ETFs) that received a nod of approval in January. This endorsement by the Securities and Exchange Commission (SEC) has catalyzed a bullish trend for Bitcoin and other cryptocurrencies.</p> 
<h2 id="analysis-of-recent-bitcoin-investment-trends">Analysis of Recent Bitcoin Investment Trends</h2> 
<p style="text-align: justify">A recently published analysis by CryptoQuant, an on-chain analytics firm, has highlighted the primary sources of investment fueling the current market upswing. The report indicates that ETFs have been the predominant investors in Bitcoin over the recent weeks, excluding the contributions from Grayscale’s Bitcoin Trust (GBTC). Specifically, these new ETFs have accounted for the majority of Bitcoin investment and now represent a growing share of the coin’s total historical investment.</p> 
<p style="text-align: justify">As Bitcoin trades at $52,140 and reaches new heights, its market capitalization has once again crossed the $1 trillion threshold, replicating a milestone last seen in November 2021. The total value of the cryptocurrency market is on the verge of hitting $2 trillion, with expectations of further growth toward a $2.1 trillion resistance level.</p> 
<h2 id="forecasts-and-impact-of-spot-bitcoin-etfs">Forecasts and Impact of Spot Bitcoin ETFs</h2> 
<p style="text-align: justify">Spot Bitcoin ETFs are playing a pivotal role in the market’s rally, as suggested by a report from Julio Moreno, the head of research at CryptoQuant. The significant capital inflow through these ETFs is anticipated to persist and elevate Bitcoin’s value to unprecedented levels in 2024. Within just a month, these ETFs have seen a net investment surge of approximately $3 billion, and this figure is projected to grow as these investment vehicles attract more participants.</p> 
<p style="text-align: justify">Data from Farside Investors shows that spot Bitcoin ETFs have amassed over 4,000 Bitcoins, valued around $215 million, with investment giant BlackRock seizing the largest portion. CryptoQuant’s research forecasts that Bitcoin’s value is likely to surpass the $56,000 mark in the near future, as indicators show a low risk for major price corrections.</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-breaks-50000-barrier-as-market-momentum-builds">Bitcoin Breaks $50,000 Barrier as Market Momentum Builds</a></h5>

Bitcoin Breaks $50,000 Barrier as Market Momentum Builds

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