Bitcoin

Momentum

Grayscale Bitcoin Trust

Rekt

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/rallying-crypto-titans-bitcoin-surges-to-record-high-with-renewed-momentum" rel="noopener noreferrer nofollow">Rallying Crypto Titans: Bitcoin Surges to Record High with Renewed Momentum</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoin-soars-over-69000-as-precious-metals-reach-new-heights" rel="noopener noreferrer nofollow">Bitcoin</a>‘s price ascended to unprecedented levels on March 14th, with investor enthusiasm on the rise as the digital currency marked a new peak at $73,794 on central exchanges. This sharp increase indicated a rebound from earlier signs of faltering, as Bitcoin recovered robustly from prior hesitations seen at the beginning of the Wall Street trading session.</p>
<h2 id="analysts-observe-bitcoin-s-resilience">Analysts Observe Bitcoin’s Resilience</h2>
<p style="text-align: justify">Notable analysts, including popular investor Rekt Capital, observed that despite a preceding drop earlier in the week, Bitcoin managed to bounce back, now leveraging its previous high-water mark as a foundation for support. This resilience has kept investors’ spirits high and their outlook optimistic.</p>
<p style="text-align: justify">In the wake of Bitcoin’s surge, market attention turned toward the tendencies of supply, particularly the influence of the US spot Bitcoin exchange-traded funds (ETFs) on the demand side. Reports from Farside, a UK-based investment firm, revealed a considerable net inflow of $683.7 billion into these funds on March 13th.</p>
<h2 id="etf-adoption-and-market-dynamics">ETF Adoption and Market Dynamics</h2>
<p style="text-align: justify">This influx of capital has tipped the supply scarcity in favor of bullish traders, outperforming the daily outflows from the Grayscale Bitcoin Trust (GBTC). Willy Woo of Woobull, a Bitcoin data platform, supported ARK Invest CEO Cathie Wood’s sentiment, stating that institutional involvement in ETFs is just taking off, anticipating a few months before significant capital allocation commences.</p>
<p style="text-align: justify">Amidst this market activity, MicroStrategy—a tech firm with a massive Bitcoin reserve—announced plans to expand its holdings, aspiring to possess more than 1% of all available Bitcoin. With an existing stash of 205,000 Bitcoins, the firm is eyeing an addition worth $500 million, targeting over 210,000 Bitcoins.</p>
<p style="text-align: justify">Despite some skepticism about the sustainability of the current price momentum, Bitcoin’s rise remains a prominent topic among market watchers. Charles Edwards, of Capriole Investments, remains bullish, anticipating an upcoming ascent for the <a href="https://en.bitcoinhaber.net/exploring-jpmorgans-potential-move-into-bitcoin-etfs-despite-ceos-criticism" rel="noopener noreferrer nofollow">BTC</a>/USD pair, while also acknowledging the role of recent ETF capital inflows in staving off a potential downturn.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/rallying-crypto-titans-bitcoin-surges-to-record-high-with-renewed-momentum" rel="noopener noreferrer nofollow">Rallying Crypto Titans: Bitcoin Surges to Record High with Renewed Momentum</a></h5>

Rallying Crypto Titans: Bitcoin Surges to Record High with Renewed Momentum

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