Bitcoin

April

when

Bitcoin has been on an absolute tear, <a href="https://www.newsbtc.com/analysis/btc/will-bitcoin-bulls-hit-55k/" target="_blank" rel="noopener ">surpassing $52,000</a> for the first time since December 2021. The leading digital asset <a href="https://www.newsbtc.com/news/bitcoin-breaches-52000-reclaiming-1-trillion-market-cap-as-btc-eyes-higher-ground/" target="_blank" rel="noopener ">has </a>already climbed over 23% in 2024, and a major driver of this meteoric rise has been the influx of institutional money entering the space through spot Bitcoin ETFs.&nbsp; 
Bitcoin’s mainstream credibility among traditional investors has been growing since the beginning of February, with ETFs registering between $400 million and $650 million in daily inflows in the past week. At the same time, <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-open-interest-2-year-high-btc-breaks-51000/" target="_blank" rel="noopener ">BTC call options</a> have seen a massive rise.&nbsp; 
This bullish sentiment has prompted investors to begin anticipating the moment when BTC would achieve a new all-time high. <a href="https://www.qcp.capital/featured-article/qcp-options-vol-cast-15-feb-24/" target="_blank" rel="noopener nofollow">According to analysts</a> at QCP Capital, a crypto asset trading firm, Bitcoin is set to reach a <a href="https://www.newsbtc.com/bitcoin-news/these-developments-show-that-bitcoin-bullish-momentum-is-far-from-over/" target="_blank" rel="noopener ">new all-time high</a> before the end of March 2024. 
<h2 id="top-firm-predicts-bitcoin-can-reach-new-all-time-high-before-april">Top Firm Predicts Bitcoin Can Reach New All-Time High Before April</h2> 
Bitcoin’s current <a href="https://www.newsbtc.com/news/are-we-headed-for-another-69k-bitcoin-price-surges-as-greed-dominates-crypto-market/" target="_blank" rel="noopener ">all-time high of $69,044</a> has looked like an insurmountable mountain for the past two years, especially during the prolonged bear market in 2022, which saw BTC trading below $17,000. However, things have changed since that time, and current metrics point to the price of Bitcoin blasting past this price point in the coming months.&nbsp; 
This change in sentiment can mainly be attributed to the attention around spot Bitcoin ETFs. Although Bitcoin seemed to struggle behind a sell-the-news event for weeks after these ETFs hit the market, the situation has since turned positive. 
According to <a href="https://x.com/BitMEXResearch/status/1758015389450011130?s=20" target="_blank" rel="noopener nofollow">data</a> from BitMEX Research, Bitcoin ETFs have witnessed massive inflows led by BlackRock’s ETFs in the past week. At the same time, outflows from Grayscale’s GBTC have slowed down. Consequently, the ETFs have received a steady $400 million to $650 million in daily inflows, which works out to 8,000 to 12,000 BTC bought daily.&nbsp; 
Notably, trading hit <a href="https://x.com/CryptoPatel/status/1757969484483367415?s=20" target="_blank" rel="noopener nofollow">historic highs</a> on February 14th, with the top nine ETFs hitting $1.5 billion in trading volume. 
<h2 id="what-s-driving-the-btc-price-rally">What’s Driving The BTC Price Rally?</h2> 
QCP Capital credits this increasing institutional investment in Bitcoin as a critical driver of future growth. Analysts expect this inflow to continue as BTC becomes increasingly popular among traditional investors and global liquidity rotates into the spot ETFs, allowing it to break past its all-time high before April.&nbsp; 
The analysts also looked at the massive purchases of BTC call options, noting how $10 million was spent in the past week on premiums for $60,000 to $80,000 strikes expiring from April to December. This price point is exciting, as it indicates many investors are already <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-holds-support-48250/" target="_blank" rel="noopener ">looking forward to Bitcoin</a> breaking past $69,000 in the coming months.&nbsp; 
<img loading="lazy" decoding="async" class="wp-image-575209 size-large" src="https://www.newsbtc.com/wp-content/uploads/2024/02/bitcoin-price-btc-btcusdt-1.png?w=860&amp;resize=860%2C410" alt="bitcoin price btc btcusdt" width="860" height="410" srcset="https://www.newsbtc.com/wp-content/uploads/2024/02/bitcoin-price-btc-btcusdt-1.png?w=2372 2372w, https://www.newsbtc.com/wp-content/uploads/2024/02/bitcoin-price-btc-btcusdt-1.png?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/02/bitcoin-price-btc-btcusdt-1.png?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/02/bitcoin-price-btc-btcusdt-1.png?w=860&amp;resize=860%2C410 860w, https://www.newsbtc.com/wp-content/uploads/2024/02/bitcoin-price-btc-btcusdt-1.png?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/02/bitcoin-price-btc-btcusdt-1.png?w=2048 2048w, https://www.newsbtc.com/wp-content/uploads/2024/02/bitcoin-price-btc-btcusdt-1.png?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/02/bitcoin-price-btc-btcusdt-1.png?w=1140 1140w" sizes="(max-width: 860px) 100vw, 860px" data-recalc-dims="1"> 
Predictions can be hit or miss, but Bitcoin seems poised to continue its meteoric rise in value. It’s also important to note that the next <a href="https://www.newsbtc.com/bitcoin-news/can-bitcoin-overcome-past-trends-examining-the-pre-halving-rally-and-resistance-levels/" target="_blank" rel="noopener ">Bitcoin halving,</a> slated for April 2024, is steadily approaching.&nbsp; 
Cover image from Dall-E, Chart from Tradingview

$52,000 And Climbing: Bitcoin Eyes New Highs This March, Predicts Top Firm

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