Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-surges-past-70000-marking-a-determined-move/" data-wpel-link="internal">Bitcoin Surges Past $70,000 Marking a Determined Move</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/unlu-bitcoin-bogasi-bile-btcden-vazgecmek-uzere" data-wpel-link="internal">Bitcoin</a> (<a href="https://coin-turk.com/son-dakika-bitcoin-neden-yukseliyor-kripto-paralar-uctu-btc-28-800-dolar" data-wpel-link="internal">BTC</a>)</strong>, after showing volatility around previous peaks over the weekend, made a determined move by surpassing $70,000, potentially marking the first of many new highs in the coming months. Here are the detailed current data on the cryptocurrency!</p> 
<h2 id="coinglass-data-on-btc">Coinglass Data on BTC</h2> 
<p style="text-align: justify">According to the 21.million.com website, the cryptocurrency is trading at around $72,000 with approximately a 4% gain in the last 24 hours. The rise continues to build on the strong and rapidly growing institutional interest in <strong>cryptocurrencies</strong>. According to <strong>Coinglass</strong> data, the open interest (OI) on the world’s largest <a href="https://en.coin-turk.com/the-impact-of-the-us-dollar-on-bitcoin-potential-clues-for-the-crypto-market/" data-wpel-link="internal">Bitcoin</a> futures exchange, CME, has increased by 3.89% in the last 24 hours, surpassing $10 billion for the first time.</p> 
<p style="text-align: justify">CME’s standard futures contract is valued at five <a href="https://en.coin-turk.com/the-impact-of-inflation-on-individuals-and-robert-kiyosakis-perspective/" data-wpel-link="internal">BTC</a> and is considered a barometer of institutional interest in cryptocurrencies. At the time of writing, it accounted for more than 30% of all investments in Bitcoin derivatives, with <strong><a href="https://en.coin-turk.com/binance-to-delist-11-trading-pairs/" data-wpel-link="internal">Binance</a></strong> in second place at 22%. High speculative interest is emerging as institutional investors gain easier access to Bitcoin through recently launched spot ETFs. According to the analysis related to SoSo Value data, the new <strong>ETFs</strong> have witnessed a cumulative trading volume of $7.69 billion since their listing.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-326208 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/glassnode.png" alt="" width="1800" height="1013"></p> 
<h2 id="bitcoin-whales-on-the-move">Bitcoin Whales on the Move</h2> 
<p style="text-align: justify">Moreover, as of March 8, these ETFs are supported by approximately $9.59 billion worth of Bitcoin. A steady increase in whale entities also clearly shows the growing institutional interest. According to an analysis based on Glassnode data, organizations with at least 1,000 tokens have grown by 6% since the beginning of the year. This accumulation has helped the price of Bitcoin rise. Additionally, according to data from Hyblock Capital, about 60% of all whale positions on <strong>Binance</strong> were in long positions at the time of the news release. This suggests that most institutional investors believe the spot price of Bitcoin will continue to rise in the coming days.</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-surges-past-70000-marking-a-determined-move/" data-wpel-link="internal">Bitcoin Surges Past $70,000 Marking a Determined Move</a></h5>

Bitcoin Surges Past $70,000 Marking a Determined Move

Table of Contents

COINTURK NEWS

Other articles published on Mar 12, 2024

Shiba Inu Gains Attention with Significant Whale Accumulation

Bitcoin Miners Enjoy Record Profits as Crypto Surges to $72K

L1F, UniSat, and Best in Slot Together to Serve as BRC-20 Lead Maintainers

Grayscale Launches Low-Fee “Bitcoin Mini Trust” to Attract Investors Amid Competitive ETF Landscape

Bitcoin Surpasses $72,000 Following Inflation Data; Toncoin Emerges As Top Gainer

Federal Reserve cuts interest rate amid inflation concerns

Join our free newsletter for daily crypto updates!