Bitcoin ETF

Bitcoin

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
<a href="https://u.today/shocking-bitcoin-strategy-from-blackrock-calls-for-28-allocation">Bitcoin</a> has once again captured headlines by soaring past the $60,000 mark. Its current trading price stands at $60,405, according to the latest CoinGecko <a href="https://www.coingecko.com/">data</a>.
The cryptocurrency has now reached new all-time highs in over 30 countries, including Australia.
<h2 id="key-catalyst">Key catalyst&nbsp;</h2>
A key factor behind the recent surge in Bitcoin's price is the increasing excitement surrounding Bitcoin exchange-traded funds.
Recent data <a href="https://twitter.com/biancoresearch/status/1762791405380857886">shared</a> by Jim Bianco of Bianco Research points to a remarkable trend: all 10 spot Bitcoin ETFs registered 241,000 trades, surpassing the trading volume of major ETFs like the SPDR S&amp;P 500 ETF (SPY) and the Invesco QQQ ETF (QQQ) for the second consecutive day.&nbsp;
This spike in activity shows the growing interest and investment in Bitcoin ETFs, which collectively hold $44 billion in assets.&nbsp;
The extremely impressive data proves that Bitcoin ETFs are becoming a pivotal player on the market.
BlackRock's iShares Bitcoin ETF (IBIT) recently recorded its largest daily inflow of $520 million.
<h2 id="100-000-by-next-halving">$100,000 by next halving?</h2>
According to Blockstream CEO Adam Back, the Bitcoin price <a href="https://twitter.com/adam3us/status/1762824173007552877">could</a> reach $100,000 by the next halving event, just 51 days away.
He has cited factors such as the liquidation of leveraged shorts, the shift in investor sentiment, and the significant buying pressure from ETFs contributing to a potential rapid increase in Bitcoin's value.
However, as with any investment, caution and due diligence are advised, given the inherent volatility associated with the leading cryptocurrency.&nbsp;

Key Reason Why Bitcoin (BTC) Just Soared Above $60,000

Table of Contents

U_Today

Other articles published on Feb 28, 2024

AI-Enabled Prediction Market PredX Raises $500k in Pre-Seed Funding (28 Feb)

VeThor Token (VTHO) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Best Crypto to Buy Now February 28 – Arweave, Oasis Network, Shiba Inu

Ripple President Hails Landmark Development For XRP Ledger, Here’s Why

Bitcoin Analysts Predict Price Movements and Offer Trading Strategies

The infernal triad: Pepe, Ar, and Gala make the crypto world tremble!

Join our free newsletter for daily crypto updates!