Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-soars-to-unprecedented-heights-against-euro" rel="noopener noreferrer nofollow">Bitcoin Soars to Unprecedented Heights Against Euro</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/spotlight-on-spot-bitcoin-etfs-as-crypto-investors-gauge-market-dynamics" rel="noopener noreferrer nofollow">Bitcoin</a>‘s value has surged to record levels against the Euro, stirring significant interest within the crypto community. Markus Thielen, Head of Research at 10x, suggests that the leading <a href="https://en.bitcoinhaber.net/a-promising-month-for-altcoins-rndr-snx-and-theta" rel="noopener noreferrer nofollow">cryptocurrency</a> is on the verge of reaching a new zenith by the weekend. Thielen’s projections come as the market witnesses an unexpected price surge, with investor sentiment remaining bullish due to the noticeable absence of sellers.</p>
<h2 id="breakthrough-in-value">Breakthrough in Value</h2>
<p style="text-align: justify">The digital currency has now climbed beyond $67,000, a 6% increase in 24 hours, and is inching close to its November 2021 peak in USD value. This milestone signifies a possible high point for the year 2024, as Bitcoin trades within a 3% margin of its historic high.</p>
<p style="text-align: justify">Supporting the climb in value, Thielen highlights a significant reduction in Bitcoin reserves on exchanges over the past month. Notably, <a href="https://en.bitcoinhaber.net/important-developments-in-the-crypto-market-crypto-com-receives-authorization-from-fca" rel="noopener noreferrer nofollow">Coinbase</a>‘s Bitcoin holdings have diminished markedly, suggesting a shift in investor strategy.</p>
<h2 id="catalysts-beyond-etfs">Catalysts Beyond ETFs</h2>
<p style="text-align: justify">Thielen observes factors beyond US-based ETFs that contribute to Bitcoin’s rise. He points to BlackRock’s launch of a spot ETF in Brazil and burgeoning trade volumes in Korea. Despite a shift in the flow of investments in products like Grayscale’s GBTC and BlackRock’s IBIT, the financial giant’s new offering is anticipated to continue attracting interest this week.</p>
<p style="text-align: justify">Investor inflows are holding steady despite climbing prices, signifying a robust confidence in the market’s trajectory. With these conditions, Bitcoin is poised to set a new record high, underscored by these key market developments.</p>
<h2 id="the-countdown-to-a-historic-peak">The Countdown to a Historic Peak</h2>
<p style="text-align: justify">Market enthusiasts are eagerly watching as Bitcoin approaches a potentially historic price point, with expectations of a new record being established imminently. With Bitcoin’s dominance at 54.7%, altcoins have felt the pressure, but a short period of price stabilization for Bitcoin could offer them support. At present, Bitcoin’s trading value stands at $66,564, marking a pivotal moment for both Bitcoin and the broader crypto market.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-soars-to-unprecedented-heights-against-euro" rel="noopener noreferrer nofollow">Bitcoin Soars to Unprecedented Heights Against Euro</a></h5>

Bitcoin Soars to Unprecedented Heights Against Euro

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