Bitcoin

Rise

BlackRock

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/rise-in-bitcoin-ignites-crypto-market-as-etf-activity-intensifies" rel="noopener noreferrer nofollow">Rise in Bitcoin Ignites Crypto Market as ETF Activity Intensifies</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoin-gains-over-42000-and-investors-are-optimistic" rel="noopener noreferrer nofollow">Bitcoin</a>‘s value soared to $64,000 recently, experiencing a sharp $20,000 climb within a month, before adjusting slightly below $62,000. Market dynamics indicate a high demand scenario, substantiated by reduced selling from Bitcoin miners in anticipation of further price increases. This surge is occurring as Bitcoin’s exchange-traded funds (ETFs) witness substantial inflows, hinting at increased investor interest and potential for a supply crunch.</p>
<h2 id="surge-in-etf-inflows-spurs-bitcoin-s-growth">Surge in ETF Inflows Spurs Bitcoin’s Growth</h2>
<p style="text-align: justify">As Bitcoin aims to consolidate its price above $58,000, experts are monitoring the inflows into ETFs, which have now reached a cumulative $8 billion. The fervor surrounding ETFs is contributing to a demand that significantly outweighs the daily production of new Bitcoin, indicating their pivotal role in Bitcoin’s performance post its last halving event, which historically triggers substantial price hikes.</p>
<h2 id="record-breaking-trading-volumes-for-bitcoin-etfs">Record-Breaking Trading Volumes for Bitcoin ETFs</h2>
<p style="text-align: justify">The trading volume of Bitcoin ETFs is setting new records with two such ETFs among the top 10 in the overall ETF market. BlackRock and Fidelity, notable ETF providers, have reported remarkable volumes, with BlackRock reaching $1.75 billion and Fidelity exceeding $730 million. The combined volume of these and other ETFs like ARK has surpassed $2.7 billion, reflecting investor enthusiasm.</p>
<p style="text-align: justify">As the trading day proceeds, these ETFs are projected to hit a total volume close to $3.5 billion, underscoring their significant influence on the current Bitcoin price rally. Should this trend persist, it is expected that Bitcoin could maintain its high price levels with minimal interruptions.</p>
<p style="text-align: justify">The <a href="https://en.bitcoinhaber.net/south-korea-to-enhance-transparency-with-crypto-asset-declaration-for-senior-officials" rel="noopener noreferrer nofollow">cryptocurrency</a> market, propelled by a robust Bitcoin performance, is poised for potential growth as ETFs attract more attention. Market analysts will be keenly observing the closing figures to gauge the sustainability of this rally and its implications for the broader crypto space.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/rise-in-bitcoin-ignites-crypto-market-as-etf-activity-intensifies" rel="noopener noreferrer nofollow">Rise in Bitcoin Ignites Crypto Market as ETF Activity Intensifies</a></h5>

Rise in Bitcoin Ignites Crypto Market as ETF Activity Intensifies

Table of Contents

BH NEWS

Other articles published on Feb 28, 2024

Ethereum-Based Token Frog Wif Hat Surges 800% After Successful Launch on Uniswap

Should I Buy Pikamoon (PIKA) Before the Next Crypto Bull Run?

Bitcoin’s Surge: What’s Needed for Continued Growth?

Terra Classic’s Utility Sparks LUNC; USTC Rally Toward $1?

6 Best Altcoins to Invest in Right Now February 28 – Arweave, Injective, Dogecoin

Gala Price Prediction: GALA Surges 45%, But Two Top Crypto YouTubers Are Super Bullish On This Ne...

Join our free newsletter for daily crypto updates!