Boost

Cryptocurrency

Propel

Grayscale Bitcoin Trust

BlackRock

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-etfs-propel-market-to-record-highs-as-major-players-boost-reserves" rel="noopener noreferrer nofollow">Bitcoin ETFs Propel Market to Record Highs as Major Players Boost Reserves</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/spot-bitcoin-etfs-a-mixed-bag-of-high-volume-and-market-uncertainty" rel="noopener noreferrer nofollow">Bitcoin</a>‘s value has soared, reaching a peak of $61,360, with a remarkable $20,000 increase over the month. This surge has eclipsed the substantial monthly gains made in February 2021. The launch of spot Bitcoin Exchange-Traded Funds (ETFs) in the U.S. stands as the primary catalyst for this unprecedented market performance. Immediately upon their introduction, these ETFs experienced a sharp 7% climb in value and achieved record trading volumes in the hundreds of millions.</p>
<h2 id="market-impact-of-spot-bitcoin-etfs">Market Impact of Spot Bitcoin ETFs</h2>
<p style="text-align: justify">The new spot Bitcoin ETFs have attracted over $5 billion in net investments, substantially narrowing the market’s buyer gap. Cryptocurrency investment funds are now approximating the peak sizes recorded in 2021. This inflow of capital suggests the potential for Bitcoin to hit a six-figure valuation following the upcoming halving event. Meanwhile, asset management giants BlackRock and Fidelity have bolstered their Bitcoin holdings, further fueling market optimism.</p>
<p style="text-align: justify">The combined <a href="https://en.bitcoinhaber.net/crypto-caution-sec-chairman-genslers-warning-on-investment-risks" rel="noopener noreferrer nofollow">cryptocurrency</a> reserves, excluding the Grayscale Bitcoin Trust (GBTC), have surged to 314,082 <a href="https://en.bitcoinhaber.net/historical-parallels-crypto-market-mirrors-early-20th-century-wall-street" rel="noopener noreferrer nofollow">BTC</a>, with a total cumulative reserve reaching 758,120 BTC. This includes a notable net inflow of 136,330 BTC since the ETFs’ inception, mirroring MicroStrategy’s significant Bitcoin accumulation, now valued at approximately $8.3 billion.</p>
<h2 id="global-performance-and-future-projections">Global Performance and Future Projections</h2>
<p style="text-align: justify">Bitcoin’s valuation has recently hit record highs across various global currencies, including the yen, rupee, and yuan. Despite the U.S. dollar’s strength pushing Bitcoin past $60,000, the cryptocurrency has achieved earlier peaks in other currencies. Observing Bitcoin’s historical performance, which has consistently spiked post-halving, a similar trend could propel its price to a staggering $138,000 if it experiences a 200% increase as anticipated.</p>
<p style="text-align: justify">The astonishing inflow of capital into Bitcoin ETFs, which surpasses Bloomberg experts’ ambitious projections of a $10 billion annual net inflow, elucidates the cryptocurrency’s parabolic rise in value. These developments underscore investor confidence and herald a bullish outlook for Bitcoin’s journey ahead.</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-etfs-propel-market-to-record-highs-as-major-players-boost-reserves" rel="noopener noreferrer nofollow">Bitcoin ETFs Propel Market to Record Highs as Major Players Boost Reserves</a></h5>

Bitcoin ETFs Propel Market to Record Highs as Major Players Boost Reserves

목차

BH NEWS

2024년 2월 28일에 게재된 다른 기사

Wen Price Prediction: WEN Skyrockets 55% As This New AI Meme Coin Races Towards $1 Million

Ripple to unlock 1 billion XRP on March 1; What’s next?

Ripple Analyst Outlines Roadmap for XRP to Reach $1 Trillion Market Cap

Matrixport Co-Founder Advises Caution as Bitcoin Surges

BEN Token Analysis, Price Overview and Future Prospects

Algotech Presale Revolutionizes DeFi Scene, Surpassing $1 Million Raised in Just Weeks (28 Feb)

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!