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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoins-market-value-hits-all-time-high/" data-wpel-link="internal">Bitcoin’s Market Value Hits All-Time High</a> 
<a href="https://coin-turk.com/bitcoin-btc-57-800-dolara-igne-atti-volatiliteye-hazir-olun-uyarisi-bos-degilmis" data-wpel-link="internal">Bitcoin</a>‘s market value reached an all-time high of $1.35 trillion on March 5th. At the time of writing, <a href="https://en.coin-turk.com/analyst-predicts-bitcoin-price-surge-to-57000/" data-wpel-link="internal">Bitcoin</a> had decreased by 0.92% in the last 24 hours, trading at $67,576. According to the cryptocurrency price data platform CoinMarketCap, the world’s first cryptocurrency showed an increase of over 17% on the weekly chart. 
<h2 class="p1" style="text-align: justify" id="intense-interest-in-bitcoin-continues">Intense Interest in Bitcoin Continues</h2> 
CompaniesMarketCap data indicates that Bitcoin, after briefly surpassing the market value of silver, the world’s second most valuable metal at $1.347 trillion, has become the world’s eighth largest asset. This increase occurred the day after Bitcoin achieved its highest daily close at $68,245 on March 4th, surpassing its previous record close of $67,525 on November 8, 2021, and reinforced analysts’ expectations that Bitcoin’s price could reach $100,000 before the end of 2024. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-323327 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/btc-veri-2.jpg" alt="" width="975" height="396"> 
According to a research report shared with the public by Bitfinex Analysts on March 4th, the recently approved spot Bitcoin exchange-traded funds (ETFs) in the United States were a significant reason behind Bitcoin’s rising price movement. The report stated: 
<blockquote> 
 “February witnessed an impressive 44% increase in Bitcoin, reflecting a significant positive momentum since December 2020. The inflow of $7.5 billion into Bitcoin ETFs not only promotes market growth but also indicates a positive outlook and potential for continued capital inflows.” 
</blockquote> 
<h2 class="p1" style="text-align: justify" id="new-record-in-futures-market">New Record in Futures Market</h2> 
Bitfinex analysts suggest that the open interest in Bitcoin futures on centralized exchanges has reached record levels, reflecting investors’ confidence in a sustainable rally: 
<blockquote> 
 “The recent surge in open interest surpassed levels seen in November 2021 when Bitcoin reached its all-time high of approximately $69,000. On March 1st, the total open positions in Bitcoin futures contracts exceeded $26 billion, surpassing the previous record of $24 billion recorded in the last quarter of 2021.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-323326 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/open-ai-veri.webp" alt="" width="1058" height="704"> 
The all-time high came a day after the largest corporate Bitcoin holder, MicroStrategy, announced plans to raise $600 million as part of its ongoing Bitcoin purchase strategy. According to a post by Chairman Michael Saylor on March 4th, the funds will be issued in the form of senior convertible notes. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoins-market-value-hits-all-time-high/" data-wpel-link="internal">Bitcoin’s Market Value Hits All-Time High</a></h5>

Bitcoin’s Market Value Hits All-Time High

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