Bitcoin

Impact

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoins-price-soars-above-57000-in-market-surge" rel="noopener noreferrer nofollow">Bitcoin’s Price Soars Above $57,000 in Market Surge</a><br></p>
<p style="text-align: justify">The <a href="https://en.bitcoinhaber.net/bitcoins-price-projected-to-hit-60000-as-investor-interest-spikes" rel="noopener noreferrer nofollow">Bitcoin</a> <a href="https://en.bitcoinhaber.net/ark-invest-acquires-131-8-million-worth-of-gbtc-shares-despite-selling-700000-shares-last-month" rel="noopener noreferrer nofollow">cryptocurrency</a> has experienced a notable surge, climbing 9.31% within a 24-hour period to break the $57,000 mark for the first time since November of the previous year. Industry analysts attribute this uptick to the strategic acquisition of 3,000 Bitcoins by MicroStrategy throughout February, which has expanded their holdings to a substantial 193,000 Bitcoins.</p>
<h2 id="market-sentiment-and-profitability-analysis">Market Sentiment and Profitability Analysis</h2>
<p style="text-align: justify">From the depths of the 2022 crypto winter, Bitcoin has skyrocketed, witnessing an over 200% increase from its low. It now ranks among the most lucrative assets for investors. Data from analytics firm Santiment reveals that a staggering 95% of Bitcoin’s circulating supply is currently profitable.</p>
<p style="text-align: justify">As the world’s leading cryptocurrency edges closer to a target of $69,000, it approaches a level of near-universal profitability. Crypto market analyst Ali Martinez refers to this phase as the market’s “hope stage,” where investors’ confidence in the sustainability of the rally grows. Echoing historical patterns, a CryptoQuant researcher suggests that a macro correction is likely once Bitcoin’s profitable supply hits or exceeds 96%.</p>
<h2 id="the-impact-on-bitcoin-futures">The Impact on Bitcoin Futures</h2>
<p style="text-align: justify">The recent price movement has also spurred an uptick in the Bitcoin futures market, with an 8% increase in open interest (OI) as reported by Coinglass. Currently, the total capital committed to the derivatives market, or OI, has reached an unprecedented $25.51 billion. With Bitcoin trading around $56,000 and experts eyeing the elusive $69,000 mark, the currency’s latest climb past $57,000 has reignited investor optimism. This optimism is bolstered by both MicroStrategy’s recent purchases and the forecasts made by market specialists.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoins-price-soars-above-57000-in-market-surge" rel="noopener noreferrer nofollow">Bitcoin’s Price Soars Above $57,000 in Market Surge</a></h5>

Bitcoin’s Price Soars Above $57,000 in Market Surge

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