Bitcoin ETF

Spot

Grayscale Bitcoin Trust

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-hits-all-time-high-and-sparks-etf-trading-surge/" data-wpel-link="internal">Bitcoin Hits All-Time High and Sparks ETF Trading Surge</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/25-gelisme-bu-hafta-kripto-paralara-yon-verecek-alarmlari-kurun" data-wpel-link="internal">Cryptocurrency</a></strong> markets experienced a historic day yesterday, with <a href="https://coin-turk.com/2018deki-dususu-bilen-analist-bitcoin-btc-13-000-dolara-gidiyor" data-wpel-link="internal">Bitcoin (BTC)</a> reaching an all-time high (ATH) level for the first time since November 2021. It then fell by $10,000 due to rapid profit-taking and the liquidation of accumulated long positions in futures. However, at the time of writing, <a href="https://en.coin-turk.com/experienced-crypto-analyst-returns-to-the-market-after-bitcoin-hits-25000-support/" data-wpel-link="internal">BTC</a> is finding buyers at $67,200, indicating a strong appetite for new peaks.</p> 
<h2 style="text-align: justify" id="spot-bitcoin-etf">Spot Bitcoin ETF</h2> 
<p style="text-align: justify">The United States ignited this rally earlier this year by approving the Spot <a href="https://coin-turk.com/bitcoin-yeniden-14-000-dolari-test-edecek" data-wpel-link="internal">Bitcoin</a> ETF, proving analysts who said BTC was on its ATH journey correct. After a false “sell the news” event, the price recovered from $38,500, surging by $30,500. Below, you can see the daily volume data for the on spot <strong>BTC</strong> funds since their first trading day on January 11.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-323670 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/ETF-Hacim-5-Mart.jpg" alt="" width="750" height="491"></p> 
<p style="text-align: justify">While a few billion dollars in volume excited the market in the early days, yesterday all ETFs reached a daily volume of approximately $10 billion. <a href="https://en.coin-turk.com/bitcoin-and-ethereum-price-analysis-long-term-outlook-and-potential-levels/" data-wpel-link="internal">Bitcoin</a> analyst Alessandro Ottaviani reported a net volume of $9.58 billion for the funds. This figure surpasses the previous record of $7.7 billion seen on February 28, reflecting massive interest when considering the volume data of all ETFs in the US.</p> 
<p style="text-align: justify">According to Ottaviani’s numbers, BlackRock’s iShares Bitcoin ETF (<strong>IBIT</strong>) saw the highest volume with $3.7 billion, while Grayscale Bitcoin Trust (GBTC) and Fidelity Wise Origin Bitcoin Fund (FBTC) reached volumes of $2.8 billion and $2 billion, respectively.</p> 
<h2 style="text-align: justify" id="will-bitcoin-and-cryptocurrencies-continue-to-rise">Will Bitcoin and Cryptocurrencies Continue to Rise?</h2> 
<p style="text-align: justify">The supply of BTC and ETFs on exchanges is at historic lows. Only $142 billion worth of Bitcoin remains on cryptocurrency exchanges, and ETFs have seen nearly $10 billion in net inflows in roughly two months. While exchange supply is tightening, the reserve wallets of ETF issuers are growing. BlackRock’s reserve has reached $10 billion, while Fidelity has surpassed $7 billion. Outflows from GBTC are slowing down.</p> 
<p style="text-align: justify">In April, the halving event will cut the new supply released by miners by half. Considering all these factors, including the FOMO through the ETF channel, a general uptrend in crypto is expected unless a catastrophic scenario unfolds.</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/bitcoin-hits-all-time-high-and-sparks-etf-trading-surge/" data-wpel-link="internal">Bitcoin Hits All-Time High and Sparks ETF Trading Surge</a></h5>

Bitcoin Hits All-Time High and Sparks ETF Trading Surge

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