Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoins-price-surge-analyzing-the-current-climb/" data-wpel-link="internal">Bitcoin’s Price Surge: Analyzing the Current Climb</a><br></p>
<p style="text-align: justify">While you may be reading this article or shortly thereafter, the price of <a href="https://coin-turk.com/bitcoin-btc-aginda-durgunluk-basladi-fiyat-daha-dusebilir-mi" data-wpel-link="internal">Bitcoin</a> could have already surpassed $55,000. At the time of writing, it had retreated from $54,910 back to $54,500. The rise in <strong><a href="https://en.coin-turk.com/bitcoins-price-chart-formation-of-cup-and-handle/" data-wpel-link="internal">Bitcoin</a></strong> and altcoins today has erased previous losses, but a rapid increase could also lead to quick sales. For now, it’s necessary to determine the peak.</p> 
<h2 style="text-align: justify" id="why-is-bitcoin-rising">Why Is Bitcoin Rising?</h2> 
<p style="text-align: justify">Corporate demand weakened last week, but the figures from the past year were enough to trigger a rally. Investors were accustomed to a daily net inflow of half a billion dollars, so a correction was normal. According to a CoinShares report, there was only a net inflow of $569 million last week. However, the cumulative value of crypto funds reached a new peak of $67.5 billion.</p> 
<p style="text-align: justify">Additionally, according to Yahoo Finance data, <strong>Bitcoin ETFs</strong> have seen a net inflow of $5.5 billion since January 11. This figure reflects strong demand despite massive sales of GBTC. BlackRock’s Bitcoin ETF, IBIT, saw a 5% rally shortly after Wall Street opened on Monday, February 26, reaching an all-time high price and a volume of $1.1 billion. This was a trigger for the price increase.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-319859 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/BlackRock-BTC-ETF.jpg" alt="" width="2048" height="1314"></p> 
<h2 style="text-align: justify" id="crypto-currencies-and-btc-expectations">Crypto Currencies and BTC Expectations</h2> 
<p style="text-align: justify">MicroStrategy, the company holding the most Bitcoin among institutional investors, purchased an additional $155 million worth of <strong><a href="https://coin-turk.com/bitcoin-btc-stellar-xlm-ve-litecoin-ltc-fiyat-analizi-6-haziran-201" data-wpel-link="internal">BTC</a></strong>. This event, along with ongoing ETF inflows, increases optimism about the future of <a href="https://en.coin-turk.com/what-is-halving/" data-wpel-link="internal">BTC</a>, which is an asset with an extremely limited circulating supply. If MicroStrategy continues not to sell and ETF investors keep buying, very different outcomes could result.</p> 
<p style="text-align: justify">Experts suggest that there is only $200 billion worth of BTC available for sale, and a significant portion of this is already being placed in corporate reserves. The continued accumulation of Bitcoin by institutional investors is likely to trigger more individuals to buy BTC in anticipation of a price increase. This means we should expect to see further rises in the markets in the coming months, also influenced by the halving event.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-319860 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/Vadeli-Islemler-OI.png" alt="" width="2575" height="749"></p> 
<p style="text-align: justify">Data from Coinglass shows that interest in futures contracts has climbed to $23.43 billion. When Bitcoin hit $69,000, this figure was only $24 billion and was a record level.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoins-price-surge-analyzing-the-current-climb/" data-wpel-link="internal">Bitcoin’s Price Surge: Analyzing the Current Climb</a></h5>

Bitcoin’s Price Surge: Analyzing the Current Climb

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