Boost

Create

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-surpasses-50000-mark-as-etf-inflows-boost-confidence/" data-wpel-link="internal">Bitcoin Surpasses $50,000 Mark as ETF Inflows Boost Confidence</a> 
<a href="https://en.coin-turk.com/famous-analysts-critical-statements-for-link-btc-and-ltc-will-price-predictions-come-true-again/" data-wpel-link="internal">Bitcoin</a> (BTC) is experiencing a historic day. For the first time since 2021, the historic peak price of $50,000 has been surpassed this evening. This price increase has turned the eyes of investors worldwide back to cryptocurrencies. Investors looking for a reason behind the rise are pointing to significant inflows into spot Bitcoin ETFs, as well as supportive trends in the options and futures markets. 
<h2 style="text-align: justify" id="bitcoin-etf-inflows-create-a-climate-of-trust">Bitcoin ETF Inflows Create a Climate of Trust</h2> 
As of writing, BTC has found buyers at the $49,830 level, with a 3.40% increase in the last 24 hours. During this period, there was an increase in both market value and 24-hour trading volume. The market value rose by 3.37% to exceed $975 billion, while the 24-hour trading volume increased by 53.93% to $31.5 billion. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-313925" src="https://coin-turk.com/wp-content/uploads/2024/02/btc-50000-dolar-oldu-coin-turk-com.png" alt="" width="1567" height="857"> 
The reason behind Bitcoin’s price surpassing the $50,000 level is believed by many market observers to be due to the liquidity resulting from the inflows into spot Bitcoin ETFs. Last week, it was revealed that there were inflows of over $1.1 billion into Bitcoin ETFs in the market. 
About 30 days ago, with the start of ETF transactions, there has been a noticeable increase in institutional investor interest in Bitcoin, and as a result, the number of those including Bitcoin ETFs in their main portfolios is also increasing day by day. 
Analysts at Bernstein, Gautam Chhugani and Mahika Sapra, have associated the positive market performance with this situation. 
During this period, the options market has also significantly contributed to Bitcoin’s recent upward trend. Investors seem to be positioning themselves for the coming months, already taking positions in the $50,000 to $75,000 strike price range. 
These positions taken by investors indicate an increase in confidence that the price of Bitcoin will continue to rise in the coming period and hint at a potential price rally. 
On the other hand, the futures market is also showing a bullish expectation with an increase in open interest and positive premium changes. The highest number of open positions since December 2021 indicates strong market participation and confidence in the continuation of the price rally. 
<h2 style="text-align: justify" id="market-dynamics-and-potential-outcomes">Market Dynamics and Potential Outcomes</h2> 
Bitcoin has surpassed the critical $50,000 level and while there has been a slight pullback, market potential fluctuations and corrections should be considered. The recent increase in sales in BTC and the growing number of short positions at the $50,000 level could indicate that some traders are expecting a price correction. 
Finally, the overall crypto market cap has risen to $1.9 trillion, still behind the $3 trillion level seen during the 2021 bull market, suggesting there is more room for growth. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-surpasses-50000-mark-as-etf-inflows-boost-confidence/" data-wpel-link="internal">Bitcoin Surpasses $50,000 Mark as ETF Inflows Boost Confidence</a></h5>

Bitcoin Surpasses $50,000 Mark as ETF Inflows Boost Confidence

목차

COINTURK NEWS

2024년 2월 12일에 게재된 다른 기사

Google set to invest $27 million to push AI skill training in Europe

Shiba Inu’s (SHIB) bite might be bigger than its bark, but Kelexo (KLXO) steals the show once mor...

Loan crypto expert Kelexo (KLXO) scores more investment from USD Coin (USDC) & Ethereum (ETH) wha...

Arbitrum Faces Volatility After Whale Offloads 95,000 ARB– Revealing the Whale’s Profit

Tensor Dominates Solana NFT Market with Remarkable Market Share

Lido DAO Price Forecast: Will the LDO Price Bounce Back?

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!